Top former Trust Bank officials arrestedSeven former officials of Dai Tin Bank (Trust Bank), including former chairman of its board of directors and general director, were arrested and put under temporary detention on Tuesday. Hoang Van Toan, former chairman of Trust Bank’s board of directors, is among the seven arrested. Earlier, Trust Bank was renamed Viet Nam Construction Bank (VNCB). After the State Bank of Viet Nam gave its nod to Trust Bank’s restructuring plan, Pham Cong Danh took over the small, debt-ridden bank and renamed it VNCB. In September 2016, Danh was accused of “deliberately violating State regulations on economic management, causing severe consequences” and “violating lending regulations of credit institutions” and convicted.
Source: VietNamNet News January 11, 2017 09:04 UTC