Bank tycoon gets extra 10-year prison sentence
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.
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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