On 18/9, the Supreme People’s Procuracy (VKS) presented its closing arguments in the case involving the illegal transfer of four state-owned "golden land" plots in Saigon Ward, managed by the Southern Food Corporation - Vinafood II.
The VKS confirmed the indictment against Dinh Truong Chinh (51, former chairman of Housing Development and Trading Joint Stock Company - HDTC), Huynh The Nang (66, former general director of Vinafood II), and Nguyen Tho Tri (64, former deputy general director of Vinafood II) for "violations of regulations on management and use of state assets, causing loss and waste" was accurate and justified.
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VKS representative at the court. Photo: Hai Duyen |
VKS representative at the court. Photo: Hai Duyen
In 2015, Chinh exploited Vinafood II's initiative to divest a 6,300+ m2 plot at 33 Nguyen Du Street and 34, 36, and 42 Chu Manh Trinh Street in Saigon Ward (formerly Ben Nghe Ward, District 1) to recoup losses. Aware of the property's state ownership and auction requirement, Chinh colluded with Nang, aided by Tri, to legitimize the transfer by establishing Viet Han Saigon for joint venture investment, followed by divestment.
After a 730 billion VND (approximately $31 million USD) payment, Chinh resold the property without developing it. Just 33 days later, he transferred 99% of his Viet Han Saigon stake to Mua Dong Company for 1.683 trillion VND (approximately $71 million USD), profiting 970 billion VND (approximately $41 million USD).
The VKS identified Chinh as the mastermind, benefiting by $41 million USD without compensating for the losses, warranting a harsher sentence than his accomplices. However, acknowledging Chinh's courtroom remorse and confession, the VKS recommended a reduced sentence, proposing 13-14 years imprisonment and full repayment of the $41 million USD.
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Defendant Huynh The Nang at the court. Photo: Hai Duyen |
Defendant Huynh The Nang at the court. Photo: Hai Duyen
Regarding Nang, the VKS acknowledged his awareness of the auction requirement yet collaborating with Chinh for an illegal transfer. However, considering his lack of personal gain and honest confession, the VKS recommended a 9-10 year sentence.
Tri, who assisted Nang, received a recommended sentence of 6-7 years.
Earlier, during questioning, the defendants admitted their wrongdoing, requesting the court to reconsider the damage amount since Ho Chi Minh City People's Committee has recovered the four properties.
Hai Duyen
