The HCM City appeal court increased the prison sentence given to Dương Thanh Cường, former general director of Bình Phát Company and chairman of the Thành Phát Company, for “fraud and appropriation of property” from 16 to 18 years at a trial yesterday (Dec 14).
A life imprisonment sentence awarded by the trial court earlier for “fraud and appropriation of property” and “misuse of credit to appropriate property” takes his total term to life imprisonment.
He was also ordered to pay compensation of VNĐ185 billion (US$8 million) to Southern Bank, which has been acquired by Sacombank.
The court confirmed a three-year jail term for Trầm Bê, former vice chairman of Southern Bank and Sacombank, for “violating lending regulations of credit institutions” while at Phương Nam (Southern) Bank.
A four-year sentence awarded by the trial court earlier for abusing his position to violate banking regulations to help Phạm Công Danh borrow VNĐ.8 trillion ($77 million) from Sacombank takes his total term to seven years.
The court rejected the appeals to reduce the sentences awarded to other defendants ranging from one year (not in prison) to two and a half years in prison for the same charges.
It also refused a demand by the prosecution to force the nine remaining defendants, all executives of Southern Bank to pay VNĐ320 billion ($13.86 million) in compensation to the bank.
According to the court, Bê and the others found guilty were aware that Cường’s company was not eligible for a loan, but he still approved it.
In July the HCM City People’s Court had sentenced Cường to 16 years for “fraud and appropriation of property.”
Phan Huy Khang had got two and a half years for “violating the lending regulations of credit institutions.”
In August the People’s Procuracy appealed to the court to increase the sentences given to defendants Bê, Khang and their other accomplices.
This article was originally published in VNS