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Depositors demonstrates against Agribank
  • | dtinews.vn | September 24, 2011 04:15 PM

Recently there have been demonstration outside of an Agribank branch in HCM City because they have yet to compensate for deposits which were stolen by the former director.

Demonstration on September 22

The former director of one branch of the Vietnam Bank for Agriculture and Rural Development (Agribank) has been arrested, and the bank has yet to compensate for misappropriated funds from depositors.

The demonstration, which took place on September 22, outside of the bank\'s branch on Kinh Duong Vuong Street, in District 6, included a number of people who were upset at the disappearance of money at the bank. Many of the signs read, "Give us back our money!"

According to HCM City Police, two years ago Bui Thi Kien Ha established a company and borrowed VND29.91 billion from four people at a high interest rate. In order to gain their confidence, she deposited all the money into a blocked account at Agribank\'s Hung Vuong branch.

Although she promised these people that their money would not be used for business purposes, she and the bank director colluded so that she could use these funds for her importing business.

Using this method. they both took funds amounting to VND 29.91 billion.

When the case was discovered at the end of 2010, HMC City Police arrested Ha and Dien and required the bank to compensate the investors.

Two years has gone but the bank has yet to pay the money back.

“I had to borrow money from my relatives to give Ha this loan. Now I am still paying interest of hundreds of million dong," says Dao Duc Hoat.

The former director has admitted responsibility and promised to pay back the money once the authorities came to a decision. However, even though the police officially announced the culpability of the bank three months ago, there has been no compensation.

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