Hanoi Court to Try Former SeaBank Director in Absentia

The Hanoi People's Court has scheduled an in absentia trial for November 9 for Nguyen Thi Huong Giang, the former Director of SeaBank's Hai Ba Trung branch, and Le Anh Tam, a former company director. Giang is accused of violating lending regulations and facilitating the misappropriation of over 14.2 billion VND.

According to the indictment, Giang collaborated with Nguyen Hoang Long, Chairman of Vina Megastar Group, to create fraudulent credit files. The scheme involved fabricating sales contracts for steel and warehouse rental agreements for assets that did not exist. Giang allegedly directed subordinates to falsify appraisal reports and inventory records to secure loans despite the lack of collateral.

Between 2010 and 2011, Vina Megastar Group and its subsidiaries owed SeaBank approximately 400 billion VND. The fraudulent activities were used to facilitate further borrowing to manage existing debts and fund business operations.