VIETNAM: HANOI COURT SENTENCES TWO VINASHIN EXECS TO DEATH
February 22, 2017: The Peopleâs Court in HanoiÂ sentencedÂ Tran Van Liem, former director general of Vinashin Ocean Shipping, andÂ Giang Kim Dat, the state-run shipping companyâs former sales manager, to death after finding the two men guilty of embezzling a total of more than VND 260 billion (USD 11.3 million), according to the local media.
The two men received their sentences February 22, after a four-day trial.
The court also sentenced the companyâs exÂ chief accountant, Tran Van Khuong, to life in prison for embezzling around USD 110,000.
Giang Kim Dat was found guilty of embezzlingÂ around VND 255 billionÂ through 16 transactions related toÂ buying or leasing vessels, as he conspired with foreign partners to setÂ prices.
The investigators also revealed that the companyâsÂ former CEO received payments ofÂ nearly USD 150,000, while the former chief accountant received USDÂ 110,000.
From July 2006 to March 2007, Liem signedÂ contracts to buy three ships, Vinashin Summer from Panama, Vinashin Phoenix from Greece, and Vinashin Island from Croatia. Liem also authorized Dat to negotiate with the sellers. In the process, Dat was found to have gained VND 11.5 billion in commission.
The three men were also found guilty of making illegal gains in the amount of around VND 250 billionÂ by fixing renting prices with nine different parties from 2006 to 2008.
The majority of this money was kept by Dat, who deposited it, along with the commissionÂ gained from the purchase of the three ships, to 22 different accounts opened under the name of his father, Giang Van Hien, who received a 12-year prison sentence for money laundering.
The 40-year-old Giang Kim Dat wasÂ arrestedÂ in July, 2015, afterÂ being on theÂ run for five years to avoid theÂ probe into the alleged corruption.
The authorities started the investigations after Vinashin accumulated USD 4.5 billion in debts in 2010, leading toÂ ten Vinashin executives being arrested and trialed forÂ embezzlement so far. (Sources: worldmaritimenews.com, 23/02/2017)