On 23/9, Nguyen Van Liem, 55, Chairman of the Board of Directors and General Director of Thanh Nien Joint Stock Company, along with Le Thi Dieu Phu, General Director of Tan Binh Import-Export Materials Joint Stock Company (Tamexim), Nguyen Nhan Kiet, Director of Nam Tien Real Estate Construction and Business Joint Stock Company (Nam Tien Company), and Vu Duc Tam, Director of Post and Telecommunications Construction Investment Joint Stock Company (Saicom Company), faced trial at the Ho Chi Minh City People's Court on charges of fraudulent appropriation of assets.
However, due to the absence of several lawyers or requests for trial postponement, the Judicial Council determined that this would affect the legal rights and interests of the defendants. Consequently, the trial was postponed and is scheduled to resume on 22/10.
According to the indictment, in 2016, to secure a loan from PVcomBank for Thanh Nien Company, Liem and his accomplices provided false information regarding business operations and the intended use of funds. They also prepared, signed, and legalized numerous fraudulent documents within the loan application.
The group is further accused of inflating Thanh Nien Company's charter capital and using shares of Thu Thiem Real Estate Joint Stock Company (Thu Thiem REC), where Liem served as Chairman, as collateral without possessing full ownership rights.
Prosecutors identified Phu as having signed 8 fraudulent documents, Kiet 9 documents, and Tam 14 documents, thereby assisting Liem in legitimizing Thanh Nien Company's loan application. After PVcomBank disbursed the funds, Liem instructed the three defendants to sign payment orders, transferring money to the accounts of various individuals and organizations. Phu signed transfers totaling 297 billion VND, Kiet 175 billion VND, and Tam 325 billion VND.
Investigators contend that these transactions enabled Liem to misuse the funds, ultimately appropriating a total of 498 billion VND from PVcomBank.
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The defendants at court today. Photo: Binh Nguyen |
During the investigation, Liem denied any criminal wrongdoing. He stated that the funds disbursed by PVcomBank were used to repay an existing loan of Thanh Nien Company at another bank, for investment in the Haroma project, and to support business operations.
Liem also denied instructing his accomplices to sign fraudulent Board of Directors meeting minutes and payment orders to legitimize the loan application. He claimed to have personally deposited 425 billion VND to purchase Thanh Nien Company shares in his wife's name, though he could not recall the payment method.
The investigative agency determined that Liem's statements contradicted the testimonies of Phu, Kiet, Tam, and other relevant individuals, as well as bank account statements and collected documents.
Phu, Kiet, and Tam testified that they did not participate in the Board of Directors meetings and did not execute the steel purchase agreements or business cooperation contracts as indicated in the records. They confirmed their signatures on the documents but asserted they signed under Liem's direction, trusting him. According to their testimonies, Liem prepared the documents in advance and presented them for signing to legitimize and complete the PVcomBank loan application and disbursement process.
Hai Duyen
