We only found out about the violations when they were inspected!

According to the indictment, defendant Chu Tien Dung and his accomplices violated regulations on the management and use of state assets in the management and use of CNS's reward fund, causing losses of more than 17.3 billion VND; and committed violations in the divestment of CNS's investment in TIE Joint Stock Company (a subsidiary of CNS, hereinafter referred to as TIE), causing losses of more than 4.6 billion VND.

Defendant Chu Tien Dung

Specifically, the group of defendants who committed violations in the management and use of the CNS reward fund, causing losses of over 17.3 billion VND, includes 7 defendants: Chu Tien Dung, Nguyen Hoang Anh, Do Van Nga, Vu Le Tung, Huynh Tan Tu, Nguyen Duc Vuong, and Le Viet Ba.

CNS is a 100% state-owned enterprise, directly under the People's Committee of Ho Chi Minh City. The use of its reward fund is specifically regulated by law in government decrees. However, from April 27, 2016 to June 29, 2018, CNS spent over 17.3 billion VND on individuals and entities outside of CNS in violation of regulations.

Six defendants violated regulations on the management and use of state assets in the divestment of CNS's investment in TIE, causing losses of more than 4.6 billion VND. These defendants are: Nguyen Hoanh Hoa, Chu Tien Dung, Do Van Nga, Vu Quoc Vinh, Pham Thuy Oanh, and Hoang Minh Tri.

According to the records, through two divestments of CNS's stake in TIE on March 21, 2016 and December 27, 2016, the six defendants at CNS and TIE were aware that at the end of the 2015 fiscal year, TIE had undistributed after-tax profits, and therefore CNS would be entitled to a portion of the resulting dividends as a shareholder owning 70% of TIE's capital contribution. However, the defendants did not adjust the timing and divestment plan so that CNS could receive the 2015 dividends from TIE, corresponding to the percentage of shares sold.

The group of six defendants admitted to the acts as charged in the indictment. However, defendant Hoang Minh Tri (50 years old, former member of the TIE Board of Directors, who represented CNS in managing 4% of its capital contribution in TIE) stated that he did not participate in the management of TIE, but only followed orders from his superiors.

During questioning in court, all seven defendants admitted to the wrongdoing. When questioned about why, when disbursing funds from the reward fund, the money was not given directly to the recipients but instead to the person/department that proposed the award, defendant Chu Tien Dung stated that the reward fund did not directly disburse funds to the recipients because this was a practice from previous generations, and he was simply following suit. He only learned of the violation after the inspection.

Today (May 30) the court session continued with further questioning.

Source link: https://thanhnien.vn/bi-cao-chu-tien-dung-bi-thanh-tra-moi-biet-la-sai-pham-185230530011339945.htm