According to the indictment, defendant Chu Tien Dung and his accomplices violated regulations on management and use of state assets in the management and use of CNS's reward fund, causing a loss of more than VND 17.3 billion; and violated the divestment of CNS's investment capital at TIE Joint Stock Company (a subsidiary of CNS, referred to as TIE), causing a loss of more than VND 4.6 billion.
Defendant Chu Tien Dung
In which, the group committed violations in the management and use of CNS's reward fund, causing a loss of more than 17.3 billion VND, including 7 defendants: Chu Tien Dung, Nguyen Hoang Anh, Do Van Nga, Vu Le Tung, Huynh Tan Tu, Nguyen Duc Vuong, Le Viet Ba.
CNS is a 100% state-owned enterprise, under the People's Committee of Ho Chi Minh City, the use of the reward fund is specifically regulated by law in Government decrees. However, from April 27, 2016 to June 29, 2018, CNS spent more than 17.3 billion VND on individuals and units outside of CNS in violation of regulations.
6 defendants violated regulations on management and use of state assets in the divestment of CNS's investment capital at TIE, causing a loss of more than 4.6 billion VND, including: Nguyen Hoanh Hoa, Chu Tien Dung, Do Van Nga, Vu Quoc Vinh, Pham Thuy Oanh, Hoang Minh Tri.
According to the records, through the two divestments of CNS from TIE on March 21, 2016 and December 27, 2016, the six defendants at CNS and TIE clearly knew that at the end of the 2015 fiscal year, TIE had undistributed after-tax profits, so CNS would be entitled to the resulting profits, as a shareholder owning 70% of the capital contribution at TIE. However, the defendants did not adjust the time and divestment plan so that CNS could receive 2015 dividends from TIE, corresponding to the proportion of shares sold.
This group of 6 defendants admitted to the actions as charged in the indictment. Only defendant Hoang Minh Tri (50 years old, former member of the Board of Directors of TIE, representative of the management of 4% of CNS's capital contribution at TIE) stated that he did not participate in the management of TIE, but only followed orders from his superiors.
During the interrogation in court, the 7 defendants involved all admitted their wrongdoings. When questioned about why, when spending money from the reward fund, they did not pay directly to the person receiving the reward but paid to the proposer/recommending department, defendant Chu Tien Dung stated that the reward fund did not pay directly to the person receiving the reward because this was the way of doing things from the previous generation, the defendant only followed it, and only after being inspected did he realize that it was a violation.
Today (May 30) the trial continues.
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