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Phan Minh Tan was brought to trial for violating regulations on management and use of public investment capital, causing serious consequences and causing damage to the state budget of more than 22.6 billion VND.
The People's Court of Ho Chi Minh City is scheduled to open the first instance trial of defendant Phan Minh Tan (69 years old), Director of the Department of Science and Technology of Ho Chi Minh City from 2006 to 2014, and 5 accomplices, former leaders of this Department, on October 30 and 31.
The defendants were tried for violating regulations on management and use of public investment capital causing serious consequences at the Ho Chi Minh City Science and Technology Development Fund.
The trial was presided over by Judge Nguyen Thi Ha, Deputy Chief Justice of the Criminal Court. This is a case under the supervision and direction of the Ho Chi Minh City Steering Committee for Anti-Corruption and Negative Practices.
Defendant Phan Minh Tan - Director of the Department of Science and Technology of Ho Chi Minh City from 2006 to 2014
Regarding the case, while awaiting trial, defendant Khuat Duy Vinh Long (former Head of Technology Management Department of Ho Chi Minh City Department of Science and Technology) has fled and is wanted.
The trial was scheduled to open several times but was postponed.
According to the indictment, the Ho Chi Minh City Science and Technology Development Fund (Development Fund) is a non-profit organization with the function of promoting the application of scientific research results and technology development and technology transfer of the city.
The fund's management board consists of 6 members, chaired by Phan Minh Tan; the fund's executive body is the Ho Chi Minh City Urban Development Investment Fund (HIFU).
In August 2009, Nguyen Trong Vu, Director of Huy Hoang Technology Investment and Development Company (Huy Hoang Company, specializing in chip manufacturing) - sent an official dispatch to the Department of Science and Technology of Ho Chi Minh City requesting financial support from the science career budget in the amount of 5.1 billion VND to implement project 1.
After the project review board chaired by Phan Minh Tan reviewed and approved, Huy Hoang Company was supported with 4.9 billion VND for a period of 18 months. The funding progress was divided into 3 phases.
Although the progress of Huy Hoang Company's project implementation was slower than planned, Mr. Tan and his accomplices still proposed and approved the second round of funding of 700 million VND.
After receiving the second round of funding, Huy Hoang Company failed to complete the project and did not return the funds that had to be recovered. According to the appraisal conclusion, project 1 caused a loss of nearly 3.2 billion VND.
In parallel with the above project, in September 2009, Nguyen Trong Vu continued to send an official dispatch to the Department of Science and Technology of Ho Chi Minh City requesting a loan of 10 billion VND to implement project 2.
After the appraisal and approval steps, in early 2010, Mr. Phan Minh Tan signed a document concluding that the project met the requirements, agreed to lend money despite many objections that the project was not feasible, and at the same time requested to review the capital source of Huy Hoang Company.
In April 2019, HIFU signed a contract to lend Huy Hoang Company 10 billion VND, term 48 months, interest rate 0%, disbursement progress divided into many installments. However, after receiving the 3rd installment on May 13, 2011, Nguyen Trong Vu fled the country to the US.
As of June 30, 2021, the damage of project 2 was determined to be 19.5 billion VND including principal and interest.
According to the indictment, Mr. Tan and his accomplices were accused of causing damage to both projects totaling more than 22.6 billion VND.
During the investigation, Mr. Tan admitted that he knew Huy Hoang Company did not have enough financial capacity and was limited, but considering that the electronic chip manufacturing sector was being encouraged by the State, he supported it.
However, Mr. Tan and his accomplices did not admit to the crime because they believed that the loan approval was in accordance with regulations.
Regarding Nguyen Trong Vu, the Ho Chi Minh City Police Department's Security Investigation Agency has issued a decision to prosecute the case, prosecute the defendant for the crime of abuse of trust to appropriate property, and at the same time issued a wanted notice for Vu.
In April 2017, the investigation agency temporarily suspended the investigation. When Vu is arrested, he will be prosecuted.
According to VTC News