Bank tycoon gets extra 10-year prison sentence

By Kim Ngan
Mon, June 20, 2022 | 9:53 pm GMT+7

Tran Phuong Binh, handed life imprisonment in 2018 for big losses at creditor Dong A Bank, had 10 years added to his sentence Monday for lending violations.

Binh, 63, was found guilty of “violating regulations on banking activities and other banking-related activities under Clause 4, Article 206 of the Penal Code”.

As CEO of the private lender, he provided credit to "ineligible borrowers", causing a loss of VND184 billion ($7.92 million).

Tran Phuong Binh in court. Photo courtesy of Dan Tri newspaper.

Tran Phuong Binh in court. Photo courtesy of Dan Tri newspaper.

Given the two life sentences from previous court rulings, both related to Dong A Bank losses, he was finally handed a life sentence.

In the first case, Binh was sentenced to life in prison in December 2018, with the court stating losses had totaled VND3,600 billion (nearly $154 million).

As for the second case, he was given a life sentence on charges of having caused losses of VND8,800 billion.

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