Former Director of Banking Inspection and Supervision Department II of the State Bank of Vietnam– Ms. Do Thi Nhan – was accused by the investigation agency of accepting bribes with a particularly large amount of money, up to $5.2 million (more than VND118 billion), to cover up the violations of Saigon Commercial Joint Stock Bank (SCB) and its Chairwoman Truong My Lan.
That is the content of the investigation conclusion issued by the Police Investigation Agency of the Ministry of Public Security, reported by state media on November 18. This shows that the state’s management of banking activities is extremely weak and has many loopholes.
Tuoi Tre newspaper on November 19 reported: “Van Thinh Phat case: The entire inspection team was bribed to cover up SCB’s violations.”
The news said: “Regarding the Van Thinh Phat case, in addition to the former Director of the State Bank, who received a bribe of $5.2 million, the remaining members of the inspection team all received money from SCB, at least more than VND100 million and the largest recipient with VND8.7 billion.”
The situation where the SBV’s Inspection Agency accepted bribes to ignore violations, with the purpose of covering up, and reporting dishonestly and incompletely the inspection results to the SBV, in order to directing the handling of SCB Bank’s violations, which is a systemic problem and has lasted for many years.
Since then, the management agencies have not been able to promptly prevent the criminal acts of Ms. Truong My Lan and her accomplices, in the large asset corruption case, which occurred at SCB Bank, causing serious consequences. especially serious for the state and people.
The fact that Ms. Do Thi Nhan, just the Director of the Department of Banking Inspection and Supervision, of the State Bank, in 2018, with just one SCB Bank, received an illegal amount of up to $5.2 million, is behind the scenes. There are still many issues that need to be clarified.
The Ministry of Public Security said that Do Thi Nhan received “gifts” three times from SCB Bank, specifically:
- For the first time, in mid-March 2018, she received a gift bag containing $200,000 right in her office.
- Next, from October to December 2018, she Nhan accepted bribes twice: Once, she received a styrofoam box containing $1 million, and the second time, she received 2 styrofoam boxes, each containing $2 million at her private residence.
The conclusion of the Ministry of Public Security’s investigation clearly shows that when receiving the gift, Nhan asked Vo Tan Hoang Van, General Director of SCB Bank, what money it was. Vo Tan Hoang Van said “This is Ms. Truong My Lan’s money, thank you for assisting SCB during the inspection process.”
Tuoi Tre newspaper said that Nhan received the above money because she “instructed” SCB Bank on how to erase traces of this bank’s violations in lending activities, and at the same time ignored, did not handle many violations of this bank.
Public opinion said that Nhan could not enjoy the amount of $5.2 million alone, but had to share it with many other people, not in the Inspection Department. This is just one incident, of one individual against one customer. So, how will dozens of other banks handle it?
This shows that the harassment as well as the manipulation of state power by interest groups is like no one. In the name of inspecting violations in the banking sector, it is a smooth job with direction from top to bottom.
As a reminder, at the 8th Plenum of the 13th Central Committee (October 2023), a character was punished by the Party. That is Le Duc Tho – incumbent Secretary of Ben Tre Provincial Party Committee, former General Director of Vietinbank. Tho is accused of having deposits in the bank, up to VND3 trillion. If including stocks, Mr. Tho’s total assets are up to VND4 trillion. This information is probably reliable.
However, news revealed that Le Duc Tho explained that he was “beaten in groups.” How can Tho be as rich as Le Minh Hung, former Governor of the State Bank, and currently Chief of the Party Central Committee Office, a trusted figure of General Secretary Nguyen Phu Trong, son of Mr. Le Minh Huong, former Minister of Public Security.
Well-informed sources say that men and women who own thousands of billions no less than Le Duc Tho, once a key leader of the bank, are present in the 13th Central Committee, such as: Secretary of the Party Central Committee, Chief of the Central Office Le Minh Hung; SBV’s Governor Nguyen Thi Hong; Minister of Transport Nguyen Van Thang; Secretary of Hung Yen Nguyen Huu Nghia, etc. all have assets deposited in foreign banks, at least several hundred million dollars.
This shows that banking interest groups have joined hands to strangle businesses, through inspection, to make money. This is something that needs to be clarified as soon as possible./.