Nguyen Xuan Son, former head of one of the major banks in Vietnam was sentenced to death for involvement in corruption cases.
Son served as Director General of OceanBank, before becoming the head of PetroVietnam’s national oil company.
He was found guilty of mismanagement and embezzlement of millions of dollars. The verdict was handed down in court at Hanoi Court on Friday.
Dozens of former employees also received lengthy prison sentences in the major corruption trial.
OceanBank is partially-state owned, so Son’s crime of mishandling state money was thought to be particularly serious.
According to the court’s verdict, when working as Ocean Bank’s Chairman of the Board of Directors, Tham and his accomplices, who are other former leaders and employees of the bank, committed a series of violations of credit regulations, causing losses for the bank and seriously affecting the State’s monetary policies.
Their violations resulted in losses of nearly 2 trillion VND (88 million USD) for Ocean Bank.
Vietnam is one of the world’s biggest executioners, according to Amnesty International, but this is believed to be the first time in years that the death penalty has been given to such a high-ranking former official..