The Supreme People’s Procuracy on Sunday decided to prosecute six defendants in connection with fraud that occurred at the Viet Nam International Bank (VIB), Nguyen Hue branch (VIB Nguyen Hue), five years ago.

Do Xuan Hai, ex-director of Duc Hieu Co Ltd; Nguyen Trong Nam, head of Nam Huong private enterprise; and Do Quang Bình, director of Nam Bình Co Ltd; were prosecuted on the charge of “swindling to appropriate property.” All three live in Chuong My District of Hanoi.

The other three defendants, Nguyen Thanh Hieu, former director of VIB Nguyen Hue; Mai Ngoc Vinh, a former customer support employee at VIB Nguyen Hue; and Nguyen Hong Tuan, former managing director at 135 Security Service Joint Stock company; were charged with "violating lending regulations of credit institutions." Both Hieu and Vinh reside in Hanoi, while Tuan lives in Chuong My District.

According to the indictment, to obtain money to repay debts for individuals and banks as well as for personal expenses, Hai, Nam and Bình forged documents and appropriated over VNĐ100 billion (US$4.4 million) in the form os loans from VIB Nguyen Hue between January 2011 and April 2012.

Hieu, Vinh and Tuan were accused of "violating lending regulations of credit institutions."

The procuracy also demanded that Hai repay over VNĐ120 billion (US$3.1 million) to VIB Nguyen Hue, while Hieu was ordered to repay VNĐ16 billion ($709,000) to Hai. Nguyen Trong Nam and Do Quang Bình were ordered to repay over VNĐ9.1 billion ($403,000) and VNĐ5.6 billion ($248,000), respectively, which they misappropriated from the bank. 

VNS