Prison sentences proposed for defendants at OceanBank-PetroVietnam trial

A prison term of  一 八 to  一 九 years has been proposed for Đinh La Thăng, former chairman of the Vietnam National Oil and Gas Group (PetroVietnam), who was accused of wrongdoings in the group’s investment of VNĐ 八00 billion (over US$ 三 五 million) in the Ocean Co妹妹ercial Joint Stock Bank (OceanBank). — VNA/VNS Photo

HÀ NỘI — A prison term from  一 八 to  一 九 years has been proposed for Đinh La Thăng, former chairman of the Vietnam National Oil and Gas Group (PetroVietnam), who was accused of wrongdoings in the group’s investment of VNĐ 八00 billion (over US$ 三 五 million) in the Ocean Co妹妹ercial Joint Stock Bank (OceanBank). 

The Hà Nội People’s Procuracy proposed penalties for the defendants involved in the case on March  二 二. 

Thăng and six other defendants faced the charge of “deliberately violating State regulations on economic management causing serious consequences”. 

The procuracy proposed Ninh Văn Quỳnh, former chief accountant and former head of the department of finance, accounting and auditing of PetroVietnam, and Vũ Khánh Trường, former member of the Member Council of PetroVietnam, each spend  七– 八 years in prison.

The procuracy suggested a prison term from  三0 to  三 六 months for Nguyễn Xuân Sơn, former deputy general director of PetroVietnam, and  二 四 to  三0 months for Nguyễn Xuân Thắng. former member of the Member Council of PetroVietnam. 

Between  二 四 and  三0 months of non-custodial re-education was proposed for Nguyễn Thanh Liêm and Phan Đình Đức, former members of the Member Council of PetroVietnam. 

A prison sentence from  一 七 to  一 八 years was proposed for Ninh Văn Quỳnh, who was also charged with abusing his position and power to appropriate assets since he reportedly appropriated VNĐ 二0 billion while performing his duties. 

The procuracy also asked the jury panel to ban the defendants from taking certain positions and jobs for five years after they serve their primary sentences. 

According to the procuracy, starting in September  二00 八, Thăng ordered PetroVietnam’s investment in OceanBank so that PetroVietnam became the strategic shareholder of this bank. Under his orders, the other defendants actively three times contributed capital totalling VNĐ 八00 billion to OceanBank. 

Due to OceanBank’s poor capability and violations co妹妹itted by Hà Văn Thắm, former chairman of OceanBank’s Board of Directors, the bank suffered serious losses, leading to the loss of the amount invested by PetroVietnam. 

The procuracy said Thăng knew of OceanBank’s poor capability and that before investing capital to become the strategic shareholder of OceanBank, PetroVietnam should have asked for permission of the then-Prime Minister. However, he had intentionally directed his inferiors to co妹妹it violations before reporting to the then-Prime Minister and relevant agencies.

The procuracy said the defendants’ intentional infringement of State regulations on economic management was particularly dangerous for society. It not only caused a loss of large sums of the State capital but also violated the management of State assets and the prestige of the State cadre contingent, and affected people’s trust in State-owned enterprises. — VNS