Bank employee receives death sentence for embezzling US$4.76 million

Capital punishment was imposed on Chu Ngoc Hai, a former employee of state-run Bank of Agriculture and Development (Agribank) branch in Krong Bong District in the Central-Highlands Province of Dak Lak, for embezzlement of VND110 billion (US$4,757,110) and violations of regulations on the operations of credit institutions this morning.

Hai at the court this morning (Photo: SGGP)

Hai at the court this morning (Photo: SGGP)

The High Court in Da Nang City  this morning passed sentences on 16 former employees of the bank involved in the allegations.
According to the case file, Hai used the names of several individuals to create 562 false loan documents, embezzling more than VND110 billion and additional amount of VND3.2 billion of 76 customers. He spent money on game bet and personal expenditure.
Nineteen defendants who are former leaders of Agribank facilitated Hai’s violation. Ngo Quoc Vinh, who is former director, was sentenced to 8 years in prison for on charges that include wrongdoing with serious economic consequences.

By Dong Nguyen - Translated by Anh Quan

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