Vietnam sentences 18 bank officials up to 30 years in prison

The high court of Hanoi on Tuesday sentenced 18 former officials of the state-owned Vietnam Bank for Agriculture and Rural Development (Agribank) to four to 30 years in prison due to abuse of power.

After over 10 days' appellate trial, the high court maintained the sentence of 22-year imprisonment for Pham Thanh Tan, former Agribank general director over charges of abusing power while on duty and Irresponsibility causing serious consequences, reported the state-run news agency VNA.

The court concluded that Tan and other members of Agribank's board of directors agreed to increase credit authority for Agribank's southern Hanoi branch while its partners had no collateral.

In addition, Tan also approved a loan worth 50 million U.S. dollars out of his competence and allowed southern Hanoi branch to disburse the loan.

Meanwhile, Pham Thi Bich Luong, former director of Agribank's southern Hanoi branch and Chu Thi Kim Hien, former deputy director of the branch, were both sentenced to 30 years in prison over the charges of violating lending rules and abusing power.

Several other former officials of Agribank's southern Hanoi branch, four former Ha Tay Customs officers and one former chief of a local company faced imprisonment sentences ranging from four to 15 years.

In the appeal judgment, the court proposed the State Bank of Vietnam, the Ministry of Planning and Investment to coordinate closer to ensure healthy business environment and prevent fraudulent appropriation, VNA reported. Endit