The defendants must also pay more than VND 1,140 billion in compensation to the plaintiffs.
The harshest punishment was allocated to former Chairman and CEO of Vinashin, Pham Thanh Binh, who was sentenced to 20 years in prison.
The prosecutor also proposed sentences for the other defendants including former head of the Vinashin Control Board and former director of the Vien Duong Company, Tran Van Liem (19 years); former chairman of Cai Lan Shipping Industry One-Member Co. Ltd. and former general director of the Hai Ha Economic Zone Development Investment Joint Stock Company, To Nghiem (18 years); former director of the Hoang Anh Shipping Industry JSC, Nguyen Van Tuyen (16 years); former general director of the Vinashin Finance One-member Co. Ltd (VFC), Trinh Thi Hau (14 years); former deputy general director of VFC and former director of the Shipping Industry Finance Leasing Company, Hoang Gia Hiep (13 years); former general director of the Nam Trieu Shipping Industry Joint Stock Company, Tran Quang Vu (11 years); and former deputy general director of the Hoang Anh Shipping Industry Joint Stock Company, Do Dinh Con (10 years).
These defendants are also prohibited from taking any positions in State agencies or economic organisations until five years after they have served their entire prison sentences.
Defendant Nguyen Tuan Duong, former Chairman of the Cuu Long Investment Joint Stock Company was sentenced to three years in prison on charges of illegal use of property.
The Procuracy also that demanded that Pham Thanh Binh and Tran Van Liem pay damages of over VND985 billion to the Vien Duong Company and Binh, Tuyen and Con must pay more than VND34 billion to the Hoang Anh Company. Binh and Nghiem are also required to pay VND16.8 billion each to the Cai Lan Company; Vu will pay over VND25 billion to the Nam Trieu Company; and Duong has to pay about VND29.9 billion in compensation to the Cuu Long Company.