HCM City court upholds jail sentence for Phan Van Anh Vu

The HCMC People’s Court upheld a 17-year jail sentence for Phan Van Anh Vu, Chairman of the Board of Directors of the Bac Nam 79 Construction Company, during an appeal court on June 7.

Phan Van Anh Vu after the court 

 

Together with aneight-year imprisonment sentence pronounced by the Da Nang City People’s Court,Vu will have to spend a total of 25 years in jail. 

The court also upheld life sentence for Tran Phuong Binh,former Director General, Vice Chairman of the Board of Directors and Chairman of the Credit Councilof the Dong A Bank (DAB) for “abusing power to appropriate assets”, “intentionally violating regulations on economic management, causing seriousconsequences” and showing “lack of responsibility, causing seriousconsequences”.

A 30-yearimprisonment sentence for Nguyen Thi Kim Xuyen, former DAB Deputy DirectorGeneral, was also maintained.

Up to 14 out of the18 appeal petitions were revoked.

Binh mustcompensate over 27,000 taels of gold and 1.9 trillion VND (82.6 million USD) tothe DAB, apart from more than 52 billion VND in interest payment together withVu.

According to theindictment, while operating the Bac Nam 79 Construction and Nova Bac Nam 79Companies, Vu asked ministries, sectors, and local administrations to rent landto him as well as transfer to him the right to use land and property on land ofpublic housing and land projects in prime positions in Da Nang city and Ho ChiMinh City, which was not in line with State regulations.

He then went on to make them his own propertiesor those of his relatives, transferred them, or put them under shared ownershipwith other people to earn illegal profits.

Vu was also anaccomplice of Binh in appropriating 203 billion VND of the DAB.

Binh directed allactivities of funding and investment at the DAB and abused his power toappropriate property, causing a loss of 3.6 trillion VND.-VNA

 
 
 
 
 
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