Po­lice widen probe of al­leged graft linked to Petro­viet­nam

The Myanmar Times - Weekend - - Asean Focus -

other de­fen­dants are ac­cused of im­ple­ment­ing it.

Ocean Bank ex­ec­u­tives told the court they had to of­fer cus­tomers higher in­ter­est rates to at­tract sav­ings and that the bank would have col­lapsed if they had not done so. They also told the court they had given se­nior ex­ec­u­tives of the three Petro­viet­nam sub­sidiaries tens of thou­sands of dol­lars for their sup­port. The se­nior ex­ec­u­tives de­nied the al­le­ga­tions.

Pros­e­cu­tors on Thurs­day sought the death penalty for for­mer Ocean Bank Gen­eral Di­rec­tor Son, who later served as chair­man of Petro­viet­nam, ac­cord­ing to the state-run Tuoi Tre news­pa­per.

The news­pa­per said pros­e­cu­tors also sought life im­pris­on­ment for Tham and penal­ties rang­ing from an 18-month sus­pended sen­tence to 27 years in jail for 49 other de­fen­dants.

– AP

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