On the morning of December 28, the Ho Chi Minh City People’s Court officially opened the trial of former Chairman of Saigon Co.op Diep Dung and 8 defendants. In this case, the People’s Court of Ho Chi Minh City summoned 36 representatives of organizations and individuals; including 8 banks participating in the trial as “persons with related obligations and interests”.
Former Chairman of Saigon Co.op Diep Dung officially appeared in court. Photo: Chinh Hoang
Specifically, the Court summoned 36 representatives of organizations and individuals; including 8 banks participating in the trial as “persons with related obligations and interests”.
The court determined that Saigon.Co.op was the only victim of the case, and summoned this business’s representative to attend the trial. The jury also summoned State Bank assessors and judicial assessors in the tax field under the Ho Chi Minh City Tax Department to participate in the trial as experts. The court also summoned representatives of 8 banks, 26 companies and individuals to participate in the trial as “persons with related obligations and interests”.
At exactly 8:30 a.m., former President of Saigon Co.op Diep Dung was escorted to court by the authorities. Photo: Chinh Hoang
Accordingly, Mr. Diep Dung – former Chairman of Saigon Co.op; Mr. Vo Thanh Trung – General Director of New Urban Development Investment Joint Stock Company, Ton That Hao – General Director of Dai A Real Estate Joint Stock Company, Nguyen Thanh Nhan – former General Director of Saigon Co.op, Ho My Hoa – Director of Saigon Co.op Finance Department, tried for the same crime of “abuse of power while performing official duties”.
Defendants Tran Trung Liet – former chief accountant of Saigon Co.op, Hang Thanh Dan – (former Head of Saigon Co.op’s Control Board, Pham Thi Minh Ngoc – former Deputy Head of Saigon Co.op’s Control Board, Nguyen Thi Thuy Trang – former controller of Saigon Co.op, was also tried for “irresponsibility causing serious consequences”.
As noted by Dan Viet reporter, at exactly 8:30 a.m., the defendants were escorted to court by the authorities. Inside and outside the Ho Chi Minh City People’s Court, security is tightened…
According to the content of the case, in 2016, after the investment policy was approved by the Ho Chi Minh City People’s Committee, Mr. Diep Dung signed an official dispatch to investors announcing capital mobilization for Saigon Co.op to acquire the Big C Viet chain. Male. Saigon Co.op’s capital mobilization account has received VND 3,000 billion. In May 2016, Saigon Co.op unsuccessfully bid to buy Big C.
After the failed acquisition deal mentioned above, Mr. Diep Dung, in his role as Chairman of the Board of Directors of Saigon Co.op, did not approve the Board of Directors of Saigon Co.op, but arbitrarily directed the Finance Department and Accounting Department of Saigon Co. .op carries out procedures to transfer 1,000 billion VND of this 3,000 billion VND capital mobilization, to cooperate and invest with Do Urban New Company and Dai A Company.
According to the investment cooperation content, Saigon Co.op receives a fixed profit rate on the total cooperation amount of VND 1,000 billion mentioned above, which is 7%/year. However, in March 2018, Do Thi Moi and Dai A informed Saigon Co.op to use this 1,000 billion VND to do business ineffectively and without making a profit, requesting Saigon Co.op to adjust and reduce profits. .
Mr. Diep Dung agreed and signed an additional agreement, adjusting the profit rate from 7%/year to 0%/year from August 19, 2016. According to the indictment, the self-adjustment of fixed profits led to losses for Saigon Co.op of more than 115.6 billion VND.
The criminal acts of the defendants in this case, according to the indictment, were to cause damage to Saigon Co.op and to violate the proper operations of agencies and organizations; weakening agencies and organizations, losing prestige, and losing people’s trust in the State.
The defendants are people with positions of power but for other personal reasons, they exceeded their powers, acted against official duties, failed to perform or improperly performed assigned tasks…