VietNamNet Bridge – Besides illegal business activity, defendant Nguyen Duc Kien has been prosecuted two more counts of intentionally acting against state regulations causing serious consequences and swindling to appropriate property.

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On September 18, according to the website of the Ministry of Public Security, judicial officials met to hear the Investigation Police Agency to report of the progress, document reviews and evidence collected in the case of Nguyen Duc Kien and the people involved.
Caption: Nguyen Duc Kien.

The relevant agencies have decided to prosecute Nguyen Duc Kien, former vice chairman of the founding council of the Asia Commercial Bank (ACB), on charges of intentionally violating state provisions causing serious consequences. In addition, the defendant is prosecuted of swindling to appropriate property.

As an accomplice, Tran Ngoc Thanh and Nguyen Thi Hai Yen, Director and Chief Accountant of the Hanoi ACB Investment JS Company are also prosecuted. These defendants were escorted to a detention of the Ministry of Public Security for investigation.

Earlier, the Ministry of Public Security had received complaints and denunciations of law violations at the three companies: B & B commercial investment JSC, ACB Hanoi investment JSC Co. Hanoi Asia Financial Investment Co., Ltd, all chaired by Nguyen Duc Kien.

Based on letters of denunciation and investigation, on August 23, police initiated criminal proceedings against and arrested Nguyen Duc Kien on charges of "illegal business".

Three days later, the investigating agency arrested Ly Xuan Hai, former general director of ACB to investigate charges of willful contravention of State economic management regulations causing serious consequences.

However, Lieutenant General Phan Van Vinh, head of the Anti-crime Police General Department, the crime, said that Nguyen Duc Kien and Ly Xuan Hai involved in two different cases.

Nguyen Duc Kien, 48, studied at the University of Military Technology - Ministry of Defense, then at the Zalkamate military technology school in Hungary.

After eight years working in the textile industry, he began investing in the banking sector and became the Vice Chairman of ACB - one of Vietnam's largest private banks - at the age of 30. In 2010, in the list of the 100 richest people in Vietnam, with a large number of ACB shares in hand, the property of Kien was evaluated as VND805 billion (around over $400 million).

In the field of sports, Nguyen Duc Kien is Vice Chairman of the Vietnam Professional Football Joint Stock Company (VPF), Chairman of the Hanoi Football Club and is often referred to as "boss Kien".

Compiled by M. Lan