Vietnam prosecutes bank staff for multi‑billion VND loan fraud and usury

Vietnamese prosecutors have charged former Asia Commercial Bank (ACB) employee Nguyen Ngoc Vang with defrauding more than 28.5 billion VND from seven victims between July 2023 and the end of 2024. Vang, who used his position to present false “bank renewal” schemes, is accused of diverting the money through a Ponzi‑like structure. Several of the victims who later lent him money have also been indicted for offering loans at usurious rates of 0.3 % to 3.5 % per day, far above legal limits.

In a separate case in Đà Nẵng, former bank employee Trần Đình Quân and co‑accused have been tried for fabricating loan documents to obtain 7 billion VND, threatening and assaulting borrowers, and charging similarly excessive interest. The trial was postponed after some defence lawyers were absent. Both cases involve criminal charges of fraud, usurious lending, and illegal detention, reflecting a broader crackdown on bank‑related financial crimes in Vietnam.