Two former leaders of Cienco 1 were proposed to be sentenced to 9-10 years in prison.

SGGPO 06/07/2023 17:42

On the afternoon of June 7, regarding the trial of the case that occurred at Cienco 1, the Hanoi People's Procuracy presented the indictment against the defendants in the case of "Violating regulations on management and use of state assets causing loss and waste".

The prosecutor proposed to sentence defendant Can Hong Lai (born in 1955, former General Director of the General Department of Traffic Construction 1 - Cienco 1) to 9-10 years in prison; Pham Dung (born in 1961, former Chairman of the Board of Directors) to 9-10 years in prison; Le Van Long (former Chief Accountant) to 4-5 years; Nguyen Manh Tien (former Head of Market Planning Department) to 36-42 months in prison; Nguyen Thi Bich Hanh (former Deputy Head of Finance and Accounting Department) to 36-42 months in prison.

In addition to the proposed sentences for the former leaders of Cienco 1 as above, the prosecution agency also proposed sentencing the defendants Nguyen Ngoc Tuyen (former Auditor of A&C Auditing Company, now Deputy General Director of ASCO Auditing and Valuation Company) and Nguyen Anh Tuan (Appraiser) to 24-30 months in prison.

Defendant Pham Dung at the trial. Photo: DO TRUNG

The prosecutor also requested the court to declare that defendants Pham Dung and Can Hong Lai must jointly compensate the State for more than 54.7 billion VND in damages due to not determining land prices according to market value.

According to the prosecutor, the actions of the defendants Pham Dung, Can Hong Lai, Nguyen Manh Tien, and Nguyen Thi Bich Hanh violated the provisions of Article 15 of Decree No. 59/2011 dated July 18, 2011 of the Government on converting 100% state-owned enterprises into joint stock companies, Circular No. 202 dated December 30, 2011 of the Ministry of Finance guiding financial handling and determining enterprise value when equitizing, Circular No. 228/2009 dated December 7, 2009 of the Ministry of Finance guiding the regime of setting up and handling provisions for inventory price reduction, losses, financial investments, and bad debts.

Defendant Can Hong Lai at the trial. Photo: DO TRUNG

“The defendants’ criminal acts causing damage to the State of nearly 240 billion VND are extremely serious. The indictment against the defendants is well-founded and in accordance with the law,” the prosecutor commented.

The indictment clearly stated that defendant Pham Dung was Chairman of the Board of Directors, Head of the Steering Committee for Equitization, and was the person with the highest responsibility in assisting the Minister of Transport in directing and organizing the equitization of Cienco 1.

During the process of chairing and organizing meetings related to determining enterprise value and appraising equitization plans, the defendant did not include the content of handling the debt of VND 184.9 billion to request reconciliation and include this debt in the enterprise value.

The trial continued with the debate.

Source: https://www.sggp.org.vn/hai-cuu-lanh-dao-cienco-1-cung-bi-de-nghi-9-10-nam-tu-post692802.html