Nguyen Thanh Tai, former vice chairman of HCMC, on Sunday was sentenced eight years on the charges of violating regulations on the management and use of State assets, causing losses and wastefulness.
Nguyen Thanh Tai, former vice chairman of HCMC
Aside from Tai, the municipal People’s Court handed down jail sentences to four other defendants with the same charges. They are Le Thi Thanh Thuy, chairwoman of Mayflower Co., Ltd and Lavenue Investment JSC; Dao Anh Kiet, former director of the HCMC Department of Natural Resources and Environment; Truong Van Ut, former deputy head of the department’s land management section; and Nguyen Hoai Nam, former secretary of District 2’s Party Committee.
A land lot at 8-12 Le Duan Boulevard in HCMC’s District 1 is the State’s asset. Following the prime minister’s Decision No.9 to rearrange public assets, the municipal government decided to develop a hotel at the location, select an appropriate contractor to conduct the project without accepting the joint venture business model.
Taking advantage of the asset rearrangement, the five defendants had committed violations on the management and use of the State assets.
Tai was fully aware that the land lot is owned by the State. However, Tai signed many documents going against regulations to allow Thuy to contribute 30% of capital to the project and decided to lease out the land lot without competitive bidding.
Overall, Thuy was sentenced to five years in prison. Kiet received a prison term of five years, Nam four years and Ut three years. SGT