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More former bank officials put under investigation in Vietnam

Staff Writer | January 10, 2019
Criminal proceedings have been launched against more former officials of the Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) with the charge of “violating regulations on banking activities, other activities relating to banking activities”, the Ministry of Public Security said.
Asia   BIDV
Tran Bac Ha, former Chairman of the State-owned BIDV’s Board of Directors, has faced this charge, regulated in Article 206 of the 2015 Penal Code, since late November 2018. He is now being investigated for more violations relating to the approval of granting credit for the Trung Dung Trade and Tourism Co. Ltd.

On January 9, the investigation police agency of the Ministry of Public Security also launched criminal proceedings against and put five other BIDV officials into temporary detention for the same charge.

They consist of Doan Anh Sang (former Deputy Director General of the BIDV), Ngo Duy Chinh (former Director of the BIDV’s Ha Thanh branch), Nguyen Xuan Giap (former Deputy Director of the branch), Pham Hong Quang (former head of the branch’s corporate customers division No. 1), and Dang Thanh Nam (former employee at the branch’s corporate customers division No. 1).

Meanwhile, Doan Hong Dung, Director of the Trung Dung company, was charged with “abusing prestige to appropriate assets” under Article 175 of the 2015 Penal Code. He was also taken into police custody.