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Vietnam fraud trial: 51 ex-bankers found guilty

[JURIST] A Vietnamese Court began issuing verdicts [Vietnam Net report] and sentences Friday in an ongoing anti-corruption case for members of Ocean Bank, with former CEO Nguyen Xuan Son being sentenced to death for embezzlement.

Other sentences include life in prison for Ha Van Tham, former Chairman of Ocean bank. The 51 officials and bankers who stood trial were accused of mismanagement leading to losses [BBC report] of USD $69 million. The charges implicated dozens of the men down the ranks, targeting accountants and branch managers.

The presiding Judge, Truong Viet Toan, said [Gulf Times report], the serious nature of the crimes required strict punishment.

Many analysts see caution that the corruption crackdown might be targeting opponents of Communist Party chief Nguyen Phu Trong [official website]. Lawyers for Nguyen Xuan Son have stated that he will appeal the decision in the coming months.

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