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Former banker subject to prosecution over asset appropriation in southern Vietnam

Former banker subject to prosecution over asset appropriation in southern Vietnam

Friday, October 02, 2020, 15:24 GMT+7
Former banker subject to prosecution over asset appropriation in southern Vietnam
Tran Thi Ngoc Chau, former banker at a TPBank branch in the Mekong Delta city of Can Tho, is accused of asset appropriation.

A former banker in the Mekong Delta city of Can Tho is facing prosecution for appropriating 28 taels of gold from a customer of local lender TPBank in 2013.

The People’s Procuracy of Can Tho City in Vietnam’s Mekong Delta region on Thursday transferred the case of Tran Thi Ngoc Chau, 33, to the municipal People’s Court to begin legal proceedings against the former TPBank specialist for “abuse of trust to appropriate property.”

Working at the branch of TPBank in Can Tho City from 2013 to 2017, Chau was in charge of the gold safe keeping contract in 2013 between the lender and Nguyen Thi Thuy Lan, a local living in the city’s Binh Thuy District.

According to the contract, Lan registered her personal information at the TPBank branch to have 46 taels of gold safeguarded there.

One tael of gold equals 37.8 grams.

Taking advantage of her duty, trust of colleagues, and loose procedures, Chau repeatedly signed in Lan’s account to withdraw a total of 28 taels of gold.

Chau sold the withdrawn gold to cover her personal expenses.

It was until November 2017, when Lan wanted to withdraw all of her 46 taels of gold from TPBank, that Chau moved 28 taels of gold from another customer’s safe keeping account to the lender’s escrow account before transferring it to Lan’s.

The case was eventually uncovered in February 2019.

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