Former General Director of Saigon Industry Corporation received 5 years in prison

On the afternoon of May 31, the Ho Chi Minh City People's Court announced the verdict in the first instance trial of defendant Chu Tien Dung, 61 years old, former General Director of Saigon Industry Corporation - One Member Co., Ltd. (CNS) and 9 accomplices for violating regulations on management and use of State assets, causing loss and waste.

The People's Court sentenced defendant Chu Tien Dung to 5 years in prison, Nguyen Hoanh Hoa (65 years old, former Chairman of the Board of Members of CNS), Do Van Nga (56 years old, former Chief Accountant of CNS) to 4 years in prison; Nguyen Hoang Anh (41 years old, former Chief of Office, Deputy General Director of CNS) to 3 years in prison for violating regulations on management and use of State assets, causing loss and waste.

Pham Thuy Oanh (51 years old, former Chief Accountant of TIE, representative of CNS's capital contribution management at TIE) was sentenced to 2 years in prison but given a suspended sentence.

Hoang Minh Tri (50 years old, former member of TIE's Board of Directors, representative of CNS's capital contribution management at TIE), Le Viet Ba (41 years old, former Deputy Head of Finance - Accounting Department of CNS) were sentenced to 3 years in prison.

The defendants: Nguyen Duc Vuong (50 years old, former Chief of Office of CNS), Vu Le Tung (57 years old, former Deputy General Director of CNS), Huynh Tan Tu (54 years old, former Deputy General Director of CNS) were all sentenced to 3 years in prison but given a suspended sentence.

Regarding civil matters, the defendants were forced to pay a total of 22 billion VND in damages caused by the loss.

Former General Director of Saigon Industry Corporation received 5 years in prison - 2 — Defendant Chu Tien Dung. (Photo: Hoang Tho)

Previously, at the trial on May 30, the representative of the Ho Chi Minh City People's Procuracy argued and proposed sentences for the defendants. Defendant Chu Tien Dung was proposed to be sentenced to 7-8 years in prison; Do Van Nga to 6-7 years in prison; Nguyen Hoanh Hoa to 3-4 years in prison; Nguyen Hoang Anh to 3-4 years in prison; Pham Thuy Oanh to 24-30 months in prison but with a suspended sentence;

Hoang Minh Tri 30 - 36 months in prison but suspended sentence; Le Viet Ba 24 - 30 months in prison but suspended sentence; Nguyen Duc Vuong 30 - 36 months in prison but suspended sentence; Vu Le Tung was proposed to be sentenced to 18 - 24 months in prison, suspended sentence; Huynh Tan Tu 15 - 18 months in prison, suspended sentence.

According to the indictment of the Supreme People's Procuratorate, the 10 defendants in this case are accused of causing losses of nearly 22 billion VND at CNS. This includes 17.3 billion VND from the CNS reward fund and 4.689 billion VND from the divestment of CNS's investment in TIE Joint Stock Company.

CNS is a 100% state-owned enterprise, under the People's Committee of Ho Chi Minh City.

As of December 1, 2015, Decree No. 91/2015 regulating State capital investment in enterprises and management and use of capital and assets at enterprises takes effect.

Individuals including the CNS Board of Directors, the head of the CNS Finance and Accounting Department, and the CNS Office are well aware that CNS must issue new regulations for the management and use of the reward fund in accordance with Decree 91, replacing the old regulations for the management and use of the reward fund.

In addition, due to the consensus in the CNS leadership on the use of money from the CNS reward fund to serve foreign affairs and diplomacy , when there is a proposal to spend money, the CNS Board of Directors and the accounting and finance department do not check the information on the reward recipients, specific achievements, and the basis for giving the reward level to the units and individuals, but still sign the submission and payment voucher, and do not check the use of the reward money.

In this case, defendant Chu Tien Dung, in his capacity as General Director of CNS, directly approved the disbursement of a total of over 17.3 billion VND from CNS's reward fund based on 106 proposals submitted by departments/divisions within CNS.

The indictment also determined that in the period of 2015 - 2016, when implementing the directives of the Ho Chi Minh City People's Committee on the implementation of the restructuring plan and divestment of CNS's investment capital at TIE Joint Stock Company, the individuals who were leaders of CNS did not comply with the provisions of law and the directives of the Ho Chi Minh City People's Committee related to the management of CNS's investment capital at TIE, causing a loss of more than 4.6 billion VND.

Regarding Vu Quoc Vinh (representing 61% of CNS's capital contribution in TIE Company), since this suspect is currently on the run, the Security Investigation Agency has issued an arrest warrant and temporarily suspended the investigation, separating the case for independent trial.

Hoang Tho

Useful
Emotion
Creative
Unique

Source