Shipping scandal: Executives’ hearing at high-level court

VietNamNet Bridge – The Ha Noi Superior People’s Court on Thursday held an appeal hearing of Giang Kim Dat and three accomplices in a major corruption case that involves bankrupt State-owned firm Vinashin Ocean Shipping Ltd, or Vinashinlines.

Vietnam economy, Vietnamnet bridge, English news about Vietnam, Vietnam news, news about Vietnam, English news, Vietnamnet news, latest news on Vietnam, Vietnam

Giang Kim Dat escorted in the first instance court. – Photo tienphong.vn

In an initial trial on February 22, the Ha Noi People’s Court handed death penalties for embezzlement to Dat, 40, Vinashinlines former sales manager; and his 62-year-old ex-superior and former director general Tran Van Liem. They were said to have embezzled at least VND255 billion (US$11.2 million) and VND3.3 billion ($150,000), respectively.

Vinashinlines’ former chief accountant Tran Van Khuong, 67, received a life sentence for embezzling $110,000.

In addition, Dat’s father Giang Van Hien, 76, was sentenced to 12 years in prison for money laundering.

After the initial trial, all four defendants filed an appeal.

According to the indictment, Dat, Liem and Khuong stole the money from deals to buy or lease foreign vessels and colluded with foreign partners to rig prices for personal profits.

The money was transferred to multiple bank accounts in the name of Dat’s father, who later used it to buy several houses and cars.

Dat fled when an arrest warrant was issued in 2012 and was eventually arrested in July 2015. 

Vinashinelines was a subsidiary of the marine conglomerate Viet Nam Ship Building Industry Group (Vinashin). Ten Vinashin executives were arrested and brought to trial on embezzlement charges so far. The estimated state losses of the Vinashin scandal–which came to light in 2008–is more than VND910.2 billion. 

The hearing is scheduled for two days. 

Source: VNS



Link http://news.c10mt.com/search/label/vietnambreakingnews and http://news.c10mt.com


Links Topics : http://news.c10mt.com/2017/08/shipping-scandal-executives-hearing-at.html