Ocean Bank Director Nguyen Xuan Son sentenced to death in Vietnamese court. The head of the largest bank in Vietnam has been sentenced to death for embezzlement, abuse of power and economic mismanagement as the country begins to rise up against the corrupt elite.
Nguyen Xuan , who served as CEO of Ocean Bank received the death penalty in a Vietnamese court for his role in a fraud case involving millions of dollars of loans. Dozens of his former employersalso given long prison terms for their roles in the same case of fraud.
The corrupt banker received his sentence in the PeopleCourt in Hanoi by citizens now hoping to cleanthe countryfinancial system has been abused by the powerful and wealthy elites for too long.
BBC reports: Ocean Bank is partly state - owned, so the crime are mishandling of state money.
Vietnam is one of the greatest executioners of the world, according to Amnesty International, but is believed to be the first time in years that has been given the death penalty to a former senior official flight. Later, former president of the bank, Ha Van Tham, one of the richest people in Vietnam, was jailed for life on the same charges and violating the rules of loan. Viet Truong Toan judgment said: "The behavior is very serious breach of the management of state assets and causing public grievances, which requires strict punishment."
51 officials and bankers were tried on charges of mismanagement, causing losses of 69 million dollars. The case comes amid a massive anti-corruption in Vietnam, considered one of the most corrupt countries in Asia. It is located at 113th among 176 countries in the Corruption Perceptions Index of Transparency International.
Via: www.neon-nettle.com
Nguyen Xuan , who served as CEO of Ocean Bank received the death penalty in a Vietnamese court for his role in a fraud case involving millions of dollars of loans. Dozens of his former employersalso given long prison terms for their roles in the same case of fraud.
The corrupt banker received his sentence in the PeopleCourt in Hanoi by citizens now hoping to cleanthe countryfinancial system has been abused by the powerful and wealthy elites for too long.
BBC reports: Ocean Bank is partly state - owned, so the crime are mishandling of state money.
Vietnam is one of the greatest executioners of the world, according to Amnesty International, but is believed to be the first time in years that has been given the death penalty to a former senior official flight. Later, former president of the bank, Ha Van Tham, one of the richest people in Vietnam, was jailed for life on the same charges and violating the rules of loan. Viet Truong Toan judgment said: "The behavior is very serious breach of the management of state assets and causing public grievances, which requires strict punishment."
51 officials and bankers were tried on charges of mismanagement, causing losses of 69 million dollars. The case comes amid a massive anti-corruption in Vietnam, considered one of the most corrupt countries in Asia. It is located at 113th among 176 countries in the Corruption Perceptions Index of Transparency International.
Via: www.neon-nettle.com
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