Bank official given sack for offering $2.5m commission

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VietNam News English - 50 month(s) ago 4 readings

The Sai Gon – Ha Noi Commercial Joint Stock Bank (SHB) has sacked the director of its Khanh Hoa branch for proceeding with efforts to pay a commission of VND50 billion (US$2.5 million) to a man who had promised to secure a big deposit.

HCM CITY —

The decision to fire Truong Ngoc Nguyen on Thursday came three days after two other officers were suspended for issuing Vu Xuan Lai a savings book into which the commission was to be paid.

Lai had promised to get a deposit of VND10 trillion ($500 million) for 10 years at a 3 per cent interest, well below the current cap of 14 per cent.

SHB General director Nguyen Van Le said the two suspended officers, financial controller Chu Thi Hang Nga and accountant Nguyen Thi Truc Kieu, had flown several times from Nha Trang to HCM City to "negotiate" with Lai.

The three had allegedly met in a Nha Trang hotel a week ago to sign a deposit contract.

Nga and Kieu had also handed the man the savings book but since then he has gone missing while the money in the account has not been withdrawn.

Le said that soon after Nguyen told him about the promised VND10 trillion deposit, he had sent him an e-mail warning it was a "trick" and the money was "non-existent".

He had also warned Nguyen not to have contact with "these frauds".

Do Quang Hien, the bank's chairman, said bankers were prohibited from paying commissions for deposits.

On the same day the bank named Nguyen Tuan Khai, deputy chief of accounting at its head office in HCM City, as deputy director in charge of the Khanh Hoa branch. — VNS

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