The former director of an Agribank branch in Ho Chi Minh City is facing the death penalty for multiple violations that led to losses of more than VND358 billion ($15.7 million).

The municipal People’s Procuracy suggested punishments for the 11 defendants involved in the allegations on Monday, all of whom were employees of the Agribank branch in Ben Thanh Ward in District 1.

Capital punishment was proposed for Nguyen Thi Hoang Oanh, the ex-director of the branch, for embezzlement of property, bribery, and violations of regulations on the operations of credit institutions.

Le Van Tinh, director of Kim Gia Thuan and Kim Gia Thao Companies, was recommended a life sentence for fraud, appropriation of property and bribery.

Other accomplices are facing jail terms of between four to 30 years behind bars.

According to the case file, between 2008 and 2012, Oanh used the names of several individuals to create false loan documents, embezzling 2,660 gold taels worth VND47.2 billion ($2 million).

Using a similar method, Oanh helped Truong The Thanh, her brother-in-law and head of the Agribank branch’s business planning department, to pocket around VND13 billion ($572,717).

During the same period, Le Van Tinh applied for a loan at the bank.

Given he did not have sufficient collateral, he agreed to give Oanh a ‘bribe’ worth VND24.6 billion ($1 million).

In return, she would fake documents proving that Tinh was in fact eligible for the loan.

At the time the investigation was conducted, the Agribank branch had suffered losses of over VND358.2 billion ($15.7 million).

Like us on Facebook or follow us on Twitter to get the latest news about Vietnam!