On September 15, the Appellate Court of the Supreme People’s Court in Ho Chi Minh City (HCMC) heard the appeal of a case involving violations of regulations on the management and use of state assets, leading to losses and waste at the Southern Food Corporation (Vinafood II).
The trial panel extended the deliberation period and will announce the verdict on the morning of September 22.
The appellate trial was initiated due to appeals for reduced sentences from the defendants and a prosecution appeal from the HCMC People’s Procuracy, requesting harsher penalties for defendants Vũ Bá Vinh, Trương Văn Hứa, and Trần Văn Vẹn.
The HCMC People’s Procuracy also appealed the civil liability aspect of the case, urging the appellate court to order the defendants to jointly compensate for the damages, totaling 68 billion VND, alongside Nguyễn Kim Company.
During the appellate trial, defendants Phong, Vinh, Hứa, and Trần Bảy appealed for reduced sentences, citing reasons such as: following directives from superiors; mitigating circumstances not considered in the first instance; repayment of damages; good personal records; and significant contributions to Vinafood II.
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Nguyễn Kim Company’s representative appealed to overturn part of the first instance judgment, arguing against the requirement to pay 68 billion VND in damages. They claimed all transactions, from purchasing shares in Khánh Hội Company to divesting, were legal.
The prosecution and appellate trial panel in HCMC stated that for the three defendants whose sentences were appealed for increase, Trần Văn Vẹn (former chairman of the Board of Directors, sentenced to 3 years’ probation in the first instance) had his personal record, role, and contributions considered appropriately. Thus, the prosecution withdrew part of the appeal, recommending the original sentence be upheld.
For the remaining two defendants, Vũ Bá Vinh (2 years 6 months’ imprisonment in the first instance) and Trương Văn Hứa (2 years 6 months’ imprisonment), the first instance sentences were deemed lenient. The prosecution suggested increasing their sentences by 2-4 months.
Regarding Trương Thanh Phong’s appeal for a reduced sentence, the prosecution found the first instance sentence of 4 years 6 months appropriate and recommended no reduction. For another defendant sentenced to 3 years, the prosecution suggested a reduction, considering the sentence overly severe.
According to the first instance judgment, Vinafood II, a 100% state-owned enterprise, managed the land at 132 Bến Vân Đồn. Vinafood II proposed, and HCMC People’s Committee and the Ministry of Finance approved, converting the land use purpose for a residential and commercial project, as per the plan to restructure state-owned properties in HCMC.
The defendants, members of Vinafood II’s Board of Directors, agreed to contribute land use rights to Vĩnh Hội Company for the project. Essentially, Vinafood II secured state land allocation with usage fees, then transferred it to Vĩnh Hội Company for the same amount, retaining a 10% stake in Vĩnh Hội.
The land transfer at 132 Bến Vân Đồn to Vĩnh Hội Company was conducted at a mutually agreed price without proper asset valuation, violating regulations. Vinafood II later sold its 1.5 million shares in Vĩnh Hội for 45 billion VND.
Asset valuation concluded that as of January 27, 2011, Trương Thanh Phong and accomplices caused a loss of over 113 billion VND. The actual loss was 68.7 billion VND after deducting the 45 billion VND from the share sale.
The trial panel sentenced Trương Thanh Phong to 4 years 6 months, Trần Bảy to 3 years, Vũ Bá Vinh and Trương Văn Hứa to 2 years 6 months each, Trần Văn Vẹn to 3 years’ probation, and Trương Văn Ảnh to 2 years 6 months’ probation.
Regarding civil liability, the first instance court ordered Nguyễn Kim Company to return over 68 billion VND to the state representative at Vinafood II.
Phú Mỹ Hưng Company, the legitimate purchaser of the 132 Bến Vân Đồn land, was not involved in the defendants’ criminal acts. The court recommended lifting restrictions on property transactions for Phú Mỹ Hưng’s Millennium project.
HỮU ĐĂNG
– 14:27 15/09/2025
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