$11.56 million misappropriated by defendants to be recovered and returned to Vinashin.
The Hanoi People’s Court handed down the death penalty on February 22 to two former officials of the Vinashin Ocean Shipping Company Ltd (Vinashinlines) for embezzlement, the Vietnam News Agency reports.
The two are Tran Van Liem, the company’s former General Director, and Giang Kim Dat, former Acting Head of Vinashinlines’ Sales Department.
Tran Van Khuong, the company’s ex-Chief Accountant, was sentenced to life imprisonment, also for embezzlement, while Giang Van Hien, the father of Giang Kim Dat, was given a 12-year sentence for money laundering.
The court also demanded the recovery of over VND260 billion ($11.56 million) misappropriated by the defendants, which is to be returned to the Vietnam Shipbuilding Industry Corporation (Vinashin), the parent company of Vinashinlines.
The court held that there were sufficient grounds to confirm that during the process of purchasing and leasing ships, Liem, Dat and Khuong abused their positions and power to misappropriate more than VND260 billion ($11.56 million). Liem misappropriated VND3.1 billion ($138,000), while Dat embezzled around VND255 billion ($11.34 million) and Khuong $110,000.
Liem was pinpointed as the ringleader in the case, while Dat was a proactive accomplice and Khuong an accomplice.