The Department of Police Investigation of Crimes of Corruption, Economy, and Smuggling (C03, Ministry of Public Security ) is investigating the case of "Violation of regulations on banking activities and other activities related to banking activities" occurring at Agribank Branch 6 and a number of related units according to Decision to prosecute the criminal case No. 10/QD-CSKT-P2 dated January 25, 2024 of the Investigation Police Agency of the Ministry of Public Security.

During the investigation of the case, C03 issued a decision to prosecute and issue a wanted notice for Nguyen The Binh (born 1954 in Hung Yen), former Chairman of the Board of Directors of Agribank .

Mr. Binh was prosecuted for the crime of "Violating regulations on banking activities and other activities related to banking activities" as prescribed in Clause 4, Article 206 of the Penal Code.

In a recently issued statement, Agribank affirmed that this was the personal responsibility of Mr. Nguyen The Binh. He left Agribank many years ago and the law enforcement agency is considering his responsibility.

“This incident is completely unrelated to the management, operation and business activities of Agribank at the current stage,” Agribank emphasized.

Agribank affirms that it always strictly complies with legal regulations and is ready to closely coordinate with competent authorities in handling the case, ensuring transparency and objectivity.

At the same time, it affirms that the bank's business activities always comply with the provisions of law, always take place safely, stably, smoothly, ensuring the legitimate rights of customers and partners.

Mr. Binh was appointed as General Director of Agribank in 2007. From June 2009 to July 2011, he was Chairman of the Board of Directors of this bank.

The violations in lending activities at Branch 6 occurred during the time Mr. Nguyen The Binh was the General Director of this bank. The case involved “super fraudster” Duong Thanh Cuong, General Director of Tan Phat Construction Investment Company Limited, and was brought to trial in 2015. The authorities determined that the violations in lending activities at Branch 6 caused a loss of more than 966 billion VND.

According to the case, Duong Thanh Cuong established many companies, then hired people as directors to use these legal entities to borrow from banks.

Mr. Cuong directed his subordinates to prepare a loan application of 170 billion VND from Agribank Branch 6 to carry out the project of Trade Center, Services and High-rise Apartment at 10 Au Co together with Dong Phuong Knitting Company, with Le Thanh Cong as director. The collateral is the temporary land use right certificate of this project.

Next, Duong Thanh Cuong directed his subordinates to mortgage land use rights to borrow 628 billion VND from Agribank Branch 6 to implement the Thanh Phat Garden Villa project in Phong Phu commune, Binh Chanh district.

Afterwards, Duong Thanh Cuong borrowed the property certificate to complete the procedure but did not return it but instead mortgaged it to another bank to borrow hundreds of billions of dong.

Source: https://vietnamnet.vn/agribank-len-tieng-viec-cuu-chu-tich-nguyen-the-binh-bi-truy-na-2444618.html