Eximbank exec con: customer breaks ties with bank after it appeals verdict

By Le Chi   December 13, 2018 | 10:30 pm GMT+7
Eximbank exec con: customer breaks ties with bank after it appeals verdict
Last month the HCMC People’s Court ordered Eximbank to return the money its employees misappropriated to Binh. Photo by VnExpress
The relationship between Chu Thi Binh and Eximbank, which repaid the $10.55 million stolen from her account by an official, has gone pear-shaped.

The businesswoman has decided to withdraw the entire amount from her savings account even before the due date after the bank appealed the court verdict, which had favored her.

An Eximbank executive told VnExpress the bank has decided to appeal the verdict, which said its staff "lack responsibility causing losses to the State, organizations and enterprises" and ordered the bank to pay back her stolen money along with interest.

The problem had begun when Le Minh Hung, a former deputy director of the HCM City branch of the bank, stole money from the accounts of three customers, including Binh by forging signatures and documents.

Binh lost $10.55 million while the other two had VND19 billion ($811,000) stolen.

Last month the HCMC People’s Court, besides ordering the bank to return their money to the trio along with interest, also handed down jail and suspended sentences to five Eximbank staff.

Hung is wanted by the police and remains at large.

Previously, in August, after negotiations between the two sides Eximbank signed an agreement with Binh under which the bank agreed to give Binh an "advanced payment" of VND245 billion ($10.55 million) as the court hearing had not taken place. 

Using the word "advanced payment" the bank also meant that the one who is responsible for the payment is its former employee Le Minh Hung.

The $10.55 million Binh received from Eximbank had been kept in the bank as a saving account.

Binh, who is deputy general director of Minh Phu Seafood Corporation, one of Vietnam's biggest seafood processing companies, said the appeal indicates disrespect to the commitments the bank had made earlier. As a result, she even decided to forgo the interest since the deposit was not due yet, she said.

Binh said she is also considering ending Minh Phu’s relationship with the bank.

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