Vietnam Sentences Two Corrupt Bankers To Death

Vietnam presidentREUTERSVietnam’s President Truong Tan Sang gestures as he waits for the arrival of visiting Chinese Premier Li Keqiang at the Presidential Palace in Hanoi October 14, 2013.

A Vietnamese banker and his business associate accused of embezzling $US25 million of state money
have been sentenced to death, Al Jazeera reports.

State media organisations said that the two were among 11 defendants in a trial looking at the falsification of legal documents from April 2008-March 2009. From Al Jazeera:

Vu Quoc Hao, 58, the one-time chief of a finance subsidiary of the state-owned Vietnam Agribank and building firm boss Dang Van Hai, 56, were sentenced to death on Friday, according to state television.

“They were given the sentences for embezzlement of assets, mismanagement, abuse of power and fraud, causing serious consequences to the state,” it said.

The other nine defendants were jailed for up to 14 years for violating state economic regulations, the report added.

Vietnam’s government has promised to crack down on the corruption that currently riddles the country, according to the report.

Read the full report at Al Jazeera »

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