Death penalty, life imprisonment issued for corrupt bankers

Former chairman of state-owned PetroVietnam Nguyen Xuan Son was sentenced to death this morning for embezzlement and abuse of power committed in his former job of leading a bank partly owned by Vietnam's oil-and-gas giant at the trial on Ocean Bank.

Defendants at the trial (Photo: SGGP)

Defendants at the trial (Photo: SGGP)

In the adjudgement of the one month long trial this morning, another former chairman of Ocean Bank Ha Van Tham was sentenced to prison for life because of convictions on the four charges of embezzlement, abuse of power to appropriate property, violating lending regulations in the operation of the credit institution and intentionally violating state regulations on economic management to cause serious consequences.
Presiding Judge Tran Nam Ha also announced the verdict for 51 defendants who are Ocean Bank executives.
Judge Tran Nam Ha confirmed the acts of Nguyen Xuan Son and Ha Van Tham are particularly serious, infringing on the rights of property of the state and organizations, causing discontent among residents; accordingly they must receive harsh penalties, especially at present, in the fight against crimes in general and corruption.


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