Tran Quoc Tuan, aged 62, who previously served as the director of the State Bank of Vietnam (SBV) branch in Dong Nai Province, along with Vo Khac Hien, former vice director of the same branch, are set to face trial at the Dong Nai People's Court. The charges against them include "negligence that results in serious consequences." The trial is scheduled to take place on October 25.
From 2014 to 2017, Tuan held the position of branch director. On February 10, 2014, the branch formulated an inspection plan for Tan Tien credit fund in the province. However, Tuan decided to postpone the inspection until 2015 rather than allowing it to proceed as initially scheduled.
Despite reports indicating concerns about the credit fund's security in both 2015 and 2016, Tuan remained adamant about not permitting an inspection.
In April 2017, Tuan directed Hien and Le Xuan Huong, the deputy chief inspector of the branch, to attend a meeting and familiarize themselves with the situation. Despite discovering multiple violations related to the fund, Tuan refrained from initiating an inspection and instead opted to address the issue by signing a confidential document urging the resolution of these violations.
In November 2017, the Tan Tien credit fund faced a financial collapse, leading to significant losses amounting to VND810 billion.
According to officials, during the mentioned time frames, numerous credit funds such as Thanh Binh, Thai Binh, Dau Giay, Gia Kiem, and Quang Tien were involved in various misconducts that ultimately led to their bankruptcy, leaving them unable to repay an outstanding debt exceeding VND500 billion.
According to prosecutors, Tuan, in his capacity as the branch director, failed to carry out proper inspections and monitoring procedures, while also tampering with inspection findings.
According to reports, Tuan allegedly failed to adhere to the instructions given by the State Bank of Vietnam. Consequently, he was unable to identify credit fund violations in Dong Nai province in a timely manner. As a result of this oversight, six funds ultimately went bankrupt, leading to significant losses exceeding VND1.352 trillion.
Hien, holding the positions of chief bank inspector and vice director of the branch, neglected his responsibilities in monitoring and inspecting credit activities within Dong Nai. Consequently, he failed to timely identify fund violations, which resulted in significant financial losses.