On October 29th, the Ho Chi Minh City People’s Court handed down sentences to defendants Nguyen Cong Khe (71, former Chairman of Thanh Nien Media Corporation’s Board of Directors) and Nguyen Quang Thong (64, former Editor-in-Chief of Thanh Nien Newspaper). Both were convicted of Violating Regulations on the Management and Use of State Assets, resulting in losses and waste.
Defendants Nguyen Cong Khe and Nguyen Quang Thong at the October 29th trial.
Nguyen Cong Khe was sentenced to 8 years in prison, while Nguyen Quang Thong received a 5-year, 6-month term.
The court acknowledged mitigating circumstances for both defendants. Khe voluntarily paid 35 billion VND in restitution, cooperated fully, is over 70 years old, has made significant societal contributions, and comes from a family with revolutionary merits. Thong also received leniency for his cooperation, contributions to his field, and payment of 500 million VND in restitution.
Regarding civil liability, the court ordered the defendants to jointly compensate over 215 billion VND, deducting amounts already paid during the investigation.
According to case files, the land at 151-155 Ben Van Don, Ward 6, former District 4 (now Khanh Hoi Ward), was managed by the Saigon Tobacco Factory, a subsidiary of the Vietnam National Tobacco Corporation.
In 2004, as part of a plan to relocate tobacco factories outside urban areas, the Vietnam National Tobacco Corporation requested permission from the Steering Committee 80 (Ministry of Finance) to auction the land to fund the relocation.
The land was then allocated to Thanh Nien Newspaper for a new headquarters. However, after receiving the land, Thanh Nien sought to change its use and contributed the land rights to another company for a high-rise office, commercial center, and luxury apartment project, later divesting from it.
On November 14, 2014, Thanh Nien Real Estate Joint Stock Company announced the completion of its divestment, repayment of loans, and a profit of nearly 32 billion VND. Subsequently, the entire 151-155 Ben Van Don plot was transferred to private ownership without an auction, causing a state asset loss of over 215 billion VND.
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