Two customers lose $7.4 million from VietABank savings books

10-Jan-2019 Intellasia | VIR | 6:00 AM Print This Post

Two customers of Vietnam Asia Commercial Joint Stock Bank (VietABank) in Hanoi have just discovered the disappearance of VND170 billion ($7.4 million) from their savings books.

According to the complaint letter sent to, Trieu Thi Tuyet Trinh and Trieu Hung Cuong (living in Mai Dong ward, Hoang Mai district, Hanoi) said they deposited VND170 billion ($7.4 million) at VietABank’s Dong Do branch at 18T1 building on Le Van Luong Street, Thanh Xuan district, Hanoi.

Their VND170 billion ($7.4 million) has been deposited in six limited-period savings books, including three books containing VND90 billion ($3.9 million) in total, and three more holding VND35 billion ($1.5 million), VND25 billion ($1.1 million), and VND20 billion ($0.9 million).

The deposits have been made between September and October 2018, and had a maturity period of three months, with the annual interest rate of 5.5 per cent. These six books were signed by the director of VietABank’s Dong Do branch and stamped by the bank’s red seal.

Trinh and Cuong said that on December 8, when they visited VietABank’s Dong Do branch to withdraw money, they were told the money had already been withdrawn, even though they had never authorised anyone. They met a banker named Nguyen Thanh Tung, who asked for time.

In December 2018, the bank met these clients twice. For the first time on December 10, Cuong and Trinh met with Nguyen Thanh Tung, and the next time they met with Nguyen Toan Thang, head of the Dong Do branch, but received no proper answer.

“We wanted to meet the chair and general director of VietABank to discuss and find a solution, but they keep dodging us, refusing contact. Meanwhile, the bank cannot provide a sufficient reason for not paying us out,” noted Trinh and Cuong in the letter.

The representative of VietABank told media that losing the deposits of Trinh and Cuong as well as several other customers are part of a criminal case which is being investigated. Thereby, the bank cannot reveal further information for now.

Earlier, on December 24, the investigation agency under the Hanoi Public Security Department has started legal proceedings in the case related to Nguyen Thi Ha Thanh and others for the charge of appropriating property through swindling at VietABank’s Dong Do branch. This case started when the bank sent a document to the Hanoi Public Security Department to denounce Thanh and his accomplice’s fraud.–7-4 million-from-vietabank-savings-books.html


Category: Finance, Vietnam

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