On the evening of November 13th, the Investigation Police Agency of Can Tho City Police announced the prosecution and temporary detention of three former leaders and officers of OceanBank Can Tho Branch for “Violating lending regulations in the operations of credit institutions.”
Defendant Nguyen Quoc Truong
The prosecuted individuals include: Nguyen Quoc Truong (born in 1975; former Director), Huynh Quoc Huy (born in 1976; former Head of Business Planning Department), and Pham Vu Huy (born in 1986; former Business Specialist, Customer Business Department).
According to the investigation, Pham Vu Huy was assigned to directly handle loan applications, inspect, and appraise the value of collateral goods from Hau Giang Food Joint Stock Company before disbursing funds as per the asset mortgage contract.
However, during the inspection and appraisal process, the valuation of goods was not conducted rigorously or in accordance with regulations, failing to detect the company’s inflated quantity and value of collateral goods, thus not fulfilling assigned responsibilities.
Police executing procedural decisions against defendant Huynh Quoc Huy
After inspecting and appraising the customer’s assets, on March 31, 2014, Pham Vu Huy prepared two disbursement proposals submitted to Huynh Quoc Huy and the Director for approval, resulting in two disbursements totaling 35.6 billion VND.
As for Huynh Quoc Huy, in his role as Head of Customer Business Department, he was tasked with coordinating the inspection of collateral goods but failed to fulfill his responsibilities, allowing violations during the appraisal process.
Police executing procedural decisions against defendant Pham Vu Huy
Nguyen Quoc Truong, as the Director, failed to inspect and supervise the appraisal process conducted by his subordinates, yet still approved the loans, leading to the bank disbursing 10.53 billion VND beyond the maximum funding ratio.
Consequently, OceanBank Can Tho Branch suffered a loss of 35.6 billion VND, which remains unrecoverable.
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Former Bank Officials Charged and Detained for Violating Lending Regulations
Authorities in Can Tho City have initiated legal proceedings and detained three former OceanBank Can Tho officials for violations in appraisal and disbursement processes, resulting in a loss of 35.6 billion VND.
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