How is the appropriation of company assets handled?

In the process of developing the economy and modernizing the country, Vietnam's laws always have policies and regulations to catch up with the times. The over-production documenting of socialism in our country has formed many types of companies with different forms of capital contribution. However, for the above reasons that entail negative sides, one of them is that criminal offenses entail with a growing trend. One of the most frequent crimes committed in those companies is crimes related to the appropriation of company assets. So how does the company's asset appropriation law regulate? We - DFC Law Firm of lawyers and legal consultants would like to answer the above questions as follows:

Legal grounds

• The 2015 Criminal Code amends and supplements 2017 of the National Assembly of the Socialist Republic of Vietnam.

Contents of consultation

1. What is the law on appropriation of assets of the company?

First of all, in Chapter XIV of the 2015 Amended Criminal Code, there are clear and specific provisions on crimes related to crimes of infringement of property rights. Accordingly, the nature of appropriation is fundamental and is available in most property offenses.

The company is a form of asset, it includes production materials, capital contribution, technical motor vehicles, goods ... is in the ownership of the company. The head of the company and the representative of the company in the Business Registration License are considered the owners of that Company.

Next, a person who works in the company and commits acts of appropriation nature can commit crimes related to the appropriation of company assets as prescribed in Article 168, 170, 172, 173, 174, 175.

2. How are penalties for different cases prescribed?

We would like to make specific cases about the lowest penalty rates of some typical crimes and specific penalties for different cases as follows:

• Robbery in Article 168:those who use force or threaten to use force immediately or commit other acts that cause the attacked person to fall into an un resistable state in order to seize property, are sentenced to between 03 years and 10 years of imprisonment;
• Forcible seizure of property in Article 170:those who threaten to use force or other tricks to intimidate others in order to seize property are sentenced to between 01 year and 05 years of imprisonment;
• Public appropriation of property in Article 172:Those who publicly appropriate other people's property worth from VND 2 million to less than VND 50 million or less than VND 2 million but are subject to one of the specific cases specified in Clause 01 Article 172 are subject to non-confinement reform for up to 03 years or a prison term of between 06 months and 03 years;
• Theft of property in Article 173:those who steal other people's property worth from VND 02 million to less than VND 50 million or less than VND 02 million but are subject to one of the cases specified in Clause 01, Article 173, are subject to non-confinement reform for up to 03 years or a prison term of between 06 months and 03 years.

Note: in case the person who commits the act of appropriating assets for the company's assets is the person holding the position in the company. Specifically, the act of appropriating the assets of the director of appropriation of the company's assets will not be criminally sanctioned for crimes related to the group of crimes of infringement of ownership but will be dealt with for crimes of position.

Article 352 of the 2015 Criminal Code amended in 2017, the crimes of position and people with position are specified and clear. Among companies, the position of Director is the person appointed or authorized to run the business within the scope of management. Generally, the Director of the Company will be dealt with on two charges of appropriating the company's assets in accordance with the regulations on abuse of office, powers to appropriate property in Article 355: "those who abuse their position and powers to appropriate other people's property worth from VND 02 million to less than VND 100 million or less than VND 2 million but are subject to one of the cases specified in Clause 1 of this Article, are sentenced to between 01 year and 06 years of imprisonment."

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Hope the above article is useful to you. Sincerely!