A Vietnam court imposed the death sentence on two former executives found guilty of embezzling 531 billion dong ($25 million) from state-owned Vietnam Agribank.
The People’s Court of Ho Chi Minh City sentenced Vu Quoc Hao, the former general director of Agribank, and Dang Van Hai, the former chairman of a construction company.
Prosecutors alleged that Hao and Hai created ten fake financial leasing contracts and used them to embezzle the money. Their co-conspirators received decade-plus prison sentences.
Last month, a former regional boss from the Vietnam Development Bank was sentenced to death for stealing over $93 million from the state.
In July 2013, Le Quang Khai, a teller at Agribank, was sentenced to death for embezzling 46 billion dong ($2.16 million) to gamble, Voice of Vietnam reported.
And in November 2012, the former CEO of state-owned Hoang Anh Shipping Industry was sentenced 20 years in jail for embezzling 4.5 billion dong ($211,500).
Amnesty International has reported that death sentences in Vietnam have been imposed on defendants for running shady investment schemes, counterfeiting, and defaulting on loans.
An op-ed late last year in a prominent Vietnamese newspaper, Thanh Nien, compared the death penalty for corruption as “fighting fire with fire.” The op-ed writers said: “It is better to prevent corruption than deal with it after the fact.”
Julie DiMauro is the executive editor of FCPA Blog and can be reached here.