Court Sentences Dinh Truong Chinh to 13 Years in Prison, Orders Repayment of 970 Billion VND

Today, September 25th, after several days of trial and deliberation, the Ho Chi Minh City People’s Court’s first-instance panel delivered its verdict in the case involving the acquisition of prime land in Ho Chi Minh City’s central area, resulting in a loss of 970 billion VND.

The panel sentenced Mr. Dinh Truong Chinh (former Chairman of the Board of Housing Development and Business Corporation – HDTC) to 13 years in prison; Mr. Huynh The Nang (former General Director of Vinafood II) to 9 years and 6 months in prison; and Mr. Nguyen Tho Tri (64 years old, former Deputy General Director of Vinafood II) to 6 years in prison, all for “Violating regulations on the management and use of state assets, causing losses and waste.”

The panel also ordered Mr. Dinh Truong Chinh to return 970 billion VND and continue the seizure of assets to ensure the execution of the judgment.

Based on the case file and the proceedings in court, the panel determined that the indictment of Mr. Dinh Truong Chinh and his accomplices was accurate, with no wrongful accusations.

According to the panel, Mr. Dinh Truong Chinh played the primary role and benefited 970 billion VND, without rectifying the consequences, hence his sentence is heavier than that of his accomplices. However, during the trial, he showed a change in awareness of his criminal actions, had contributed significantly to society during his career, and his family has a revolutionary background, thus receiving a partial reduction in his sentence.

Defendants Huynh The Nang and Nguyen Tho Tri committed violations that resulted in the loss of state assets.

Additionally, the panel acknowledged mitigating circumstances for the defendants, such as their honest confessions and partial rectification of the consequences.

Regarding the case details, the panel determined that Vinafood II was directly assigned to manage and use the land at 33 Nguyen Du and 34, 36, 42 Chu Manh Trinh, Sai Gon Ward. After fulfilling financial obligations of over 766 billion VND, they were granted land use rights and ownership certificates for the houses and other assets attached to the land.

Mr. Dinh Truong Chinh, representing Viet Han Company, sought to purchase the land. He established Viet Han Sai Gon Company to bypass the land auction process. Mr. Nang and Mr. Chinh agreed on a transfer price of 730 billion VND for the land and buildings. Viet Han Sai Gon Company initiated the investment project, but in reality, it was to legalize the land use rights transfer by transferring a portion of the land value of 570 billion VND and the remaining 160 billion VND under the guise of Vinafood II withdrawing 20% of its capital contribution.

After acquiring the transfer from Vinafood II, Mr. Chinh sold 99% of the capital contribution (effectively 99% of the land value) to Winter Company for 1,683 billion VND. To conceal the land transfer to Winter Company, Mr. Chinh used Ms. Tran Ngoc Cam Hong (his cousin, a Canadian national) as an intermediary for the transaction.

Mr. Dinh Truong Chinh, representing Viet Han Company, transferred 99% of the capital contribution in Viet Han Sai Gon Company (essentially 99% of the land value) to Ms. Hong at the same price. Ms. Hong then signed a contract to transfer this 99% capital contribution to Winter Company. After Winter Company paid the full amount into Ms. Hong’s personal account, the surplus was withdrawn in cash and deposited back into Viet Han Company’s account and Mr. Dinh Truong Chinh’s account.