VietNamNet Bridge – The Ministry of Public Security has issued wanted notices for two officials of Techcombank’s HCM City branch.

The Ministry of Public Security has issued wanted notices for two officials of Techcombank’s HCM City branch

The two are Luong Huu Lam, former branch director, and Dinh Thi Hien, former deputy director.

According to the ministry, the two are being sought for violating regulations on lending, which caused the bank a loss of VND30 billion (roughly US$1.3 million).

The mastermind of the scheme is said to be Dang Phuoc An, director of Van An Ltd, a company based in the southern province of Binh Phuoc. An was prosecuted and arrested in March last year for swindling and appropriating property.

The police said Van An Company applied for a loan at the bank in March 2007, and was granted credit worth VND45 billion (over US$1.9 million). In mid-2008, An made a false financial report claiming his company was still profitable. After getting a credit extension, he continued to submit false documents to the bank to get nine additional loans worth VND30 billion (US$1.3 million).

Luong Huu Lam approved loans worth VND8billion (US$351,000) while Dinh Thi Hien signed for disbursement of VND11 billion (US$483,000).

According to the investigators, Lam and Hien knew the Van An Company’s loan request did not meet requirements, but they still approved the loans.

The two suspects have fled the country and Vietnamese police have asked Interpol to issue international wanted notices for them. 

VNS