VietNamNet Bridge – In 2014, the banking sector was volatile, with many famous bankers arrested for serious violations.

Ocean Bank officials arrested


Mr. Ha Van Tham and Ms. Nguyen Minh Thu.

In late October 2014, the investigating agencies prosecuted and arrested Mr. Ha Van Tham, former Chair of Ocean Bank on charges of "Violation of provisions for loan operations of financial institutions".

Tham’s acts of violation were determined to be only related to activities at Ocean Bank, including illegal loans, big loans without collateral. The biggest case was Tham’s VND500 billion ($25 million) loan to Trung Dung Trade and Services Co. Ltd. in 2012 without mortgages. This company has not paid the loan for Ocean Bank, and it may lose payment ability.

Over two months after Tham was arrested, his successor – Ms Nguyen Minh Thu - was also arrested. Thu (former chair and former chief executive of Ocean Bank) will be detained for four months for further investigation of violations at Ocean Bank.

Agribank loses senior officials


Mr. Do Tat Ngoc - former Chair of Agribank.

Among many bankers who were arrested in 2014, there were many officials at the Bank for Agriculture and Rural Development (Agribank).

On September 20, the police arrested Mr. Do Tat Ngoc - former Chair of Agribank - to investigate the willful act of the State regulations on economic management, causing severe consequences (loss of VND90 billion ($4.5 million) for the state budget).

More people were added to the  list of Agribank officials arrested, including the former director of an Agribank branch in HCM City, Ho Dang Trung, and 10 accomplices who were indicted for causing losses of VND966 billion (nearly $50 million) through giving loans to several private firms which were unable to pay the debt.

In November, former director of another Agribank branch in HCM City – Mr. PhamVan Cu and his two employees – were arrested for approving VND600 billion loan for a private firm, which failed to pay the debt.

Former CEO of Vietnam Construction Bank arrested


Mr. Pham Cong Danh (left) and Mr. Phan Thanh Mai.

With many violations causing heavy losses for the state budget, Mr. Pham Cong Danh, Chair of Thien Thanh Group cum Chair of the Vietnam Construction Bank, was arrested. Other senior officials of this bank were also detained, including Mr. Phan Thanh Mai, former member of the Board of Directors and former CEO.

Mai was arrested for some mistakes leading to losses of more than VND6 trillion ($285 million) for the bank.

Nguyen Nam