1990 Quan Mach Financial Misdemeanors Trial
| 1990 Quan Mach Financial Misdemeanors Trial | |
|---|---|
| Details | |
| Court | Cao Khoát Superior Court |
| Full case name | The Democratic Royal Empire of Quenmin v. Quan Mach: Triệu Trung Hiếu, COO; Lâm Hiếu Thông, CIO; Đào Chí Vịnh, CFO; et al. |
| Decided | 19 June 1990 |
| Verdict | Defendants found guilty on all 10 counts |
| Case History | |
| Subsequent action(s) | Hiếu, Thông, Vịnh and other indicted employees sentenced to 28 years in the Cao Khoát Penitentiary |
| Prior action(s) | Hiếu, Thông, Vịnh and other indicted employees arrested on 4 February 1990 |
| Related action(s) | Quan Mach paid Ѧ79.54 million in reparations |
| Court Membership | |
| Judge(s) sitting |
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The 1990 Quan Mach Financial Misdemeanors Trial (Full case title: QJD-CK-1184002: The Democratic Royal Empire of Quenmin v. Quan Mach: Triệu Trung Hiếu, COO; Lâm Hiếu Thông, CIO; Đào Chí Vịnh, CFO; et al.) was a criminal trial held against Quan Mach's senior staff and employees, for which the latter were charged with 2 counts of wire fraud, 2 counts of securities fraud, 2 counts of money laundering, and 4 counts of obstruction of justice. Spanning for approximately three and a half months, the trial ended on 19 June 1990 with the defendants found guilty on all counts and sentenced to serve 28 years in the Cao Khoát Penitentiary.
On 15 January 1990, an investigation was held against Quan Mach by the Three Fields Inspectorate concerning the company's Ponzi scheme against Green Marsh Alternatives and Helios Informatics. Hiếu, Thông, Vịnh and their associated employees were keen on providing false statements about their actions, as well as failing to disclose any financial documents that would make them liable for indictment. Eventually, news about their evident involvement in the broader neoliberal conspiracy surfaced two weeks later on 2 February 1990, and the Inspectorate was provided a firm lead that unveiled a trail of fraud and laundering which connected the scheme with the conspirators, of whom were their clients alongside the aforementioned two companies. Two days later, on 4 February, the company's senior executives and associated employees were apprehended, which scandalized the public.
The trial unraveled the testimonies from not only Green Marsh, Helios and the Inspectorate, but also from several neoliberal conspirators, investigators and prosecutors from foreign countries linked with the international conspiracy.