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HANOI (Bloomberg): A court in Vietnam sentenced the former director and chairwoman of Xuyen Viet Oil, Mai Thi Hong Hanh, to 30 years in jail for masterminding a scheme that caused state asset losses of at least 1.46 trillion dong ($57.6 million), and then bribing officials to cover it up.
The former Communist Party chief for Ben Tre province, Le Duc Tho, was also found guilty and sentenced to 28 years after being convicted of taking bribes and using his power to influence others for personal gain, news website VnExpress reported Friday. Former deputy trade minister Do Thang Hai, was also found guilty and sentenced to three years for receiving bribes.
The court said the crimes of the defendants were particularly serious, affecting not only agencies, organizations where they worked, but also violating the nation’s energy security, according to the report.
The trial in Ho Chi Minh City took place as real estate tycoon Truong My Lan appeals the death sentence handed down to her in April for embezzling $12.3 billion in the largest fraud case Vietnam has ever seen.
She has begged to be spared the death penalty and promised to pay back billions of her outstanding debt. The appeal decision is expected Tuesday.
Lan is the highest profile target so far in the Communist Party’s years-long anti-graft crackdown, which has ensnared hundreds of officials and business executives and taken down three deputy prime ministers and two presidents.
Hanh and her accomplices were convicted of paying officials bribes worth roughly 31 billion dong ($1.2 million) to overlook violations related to the petroleum price stabilization fund and for securing preferential treatment in obtaining licenses and purchasing goods.
Hanh was ordered to pay back damages of more than 1.4 trillion dong, VnExpress reported.
In all, 15 people were convicted, with other sentences ranging from 18 months suspended jail time to four years for bribery.
During the trial, the court heard how Hanh learned about the habits and preferences of the defendants in order to send them appropriate gifts. In addition to large sums of money and expensive items, she would also send small tokens such as a bottle of soy sauce, or a towel, according to Phap Luat.
--With assistance from Linh Vu Nguyen. -- ©2024 Bloomberg L.P.
