Vietnam fraud trial: Death penalty for ex-head of OceanBank

The previous head of a main Vietnamese financial institution has been sentenced to death for his position in a fraud case involving hundreds of thousands of dollars of unlawful loans.
Nguyen Xuan Son, who served as general director of OceanBank, became convicted of embezzlement, abuse of electricity and financial mismanagement.
Dozens of former personnel additionally obtained prolonged jail sentences inside the important corruption trial.
Nguyen Xuan Son's lawyer told Reuters he might enchantment the decision.
OceanBank is partially-country owned, so Son's crime of mishandling state cash become concept to be specially serious. After leaving the bank, he rose to be head of state oil giant PetroVietnam.
Vietnam is one of the world's largest executioners, according to Amnesty international, however that is believed to be the first time in years that the death penalty has been given to this kind of excessive-flying former legit.
earlier in the day, the financial institution's ex-chairman Ha Van Tham, as soon as one of the richest human beings in Vietnam, changed into jailed for existence on the equal costs, and for violating lending policies.
decide Truong Viet Toan stated: "Tham and Son's behaviour could be very critical, infringing on the control of kingdom belongings and inflicting public grievances, which requires strict punishment."



In general, 51 officials and bankers stood trial, accused of mismanagement leading to losses of $69m (£50m).
The case comes amid a large anti-corruption crackdown in Vietnam, that is ranked as one of the maximum corrupt countries in Asia. it's miles ranked 113th out of 176 countries on Transparency global's corruption perceptions index.
The government has vowed to address the problem so that it will increase the u . s .'s economic increase. In might also, a pinnacle Vietnamese respectable become sacked for "serious violations" while jogging PetroVietnam.
but analysts say that the blitz, while tackling corruption, has additionally particularly targeted warring parties of Communist party chief Nguyen Phu Trong.