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Two men found guilty of murdering Dinh Lam Nguyen, whose body was found in wheelie bin floating in Perth dam

Two men have been found guilty by a Supreme Court jury of a murder where the victim's naked body was found wrapped in plastic, inside a wheelie bin that was floating in a dam, east of Perth.

Dinh Lam Nguyen was 51 when he was stabbed 28 times by Todd Kiernan, who owed him a $4,000 drug debt.

Kiernan, 29, was aided in the murder by Gervaise Widdowson, who also helped set fire to Mr Nguyen's car and then dispose of his body.

The two were tracked down by police because the pink plastic in which Mr Nguyen's body was wrapped had a label with Kiernan's name on it.

A torn-up letter addressed to him was also inside the bin.

Prosecutors told the court Kiernan could not repay his debt to Mr Nguyen so he decided to kill him as a way out of his situation.

It was alleged Kiernan lured Mr Nguyen to his house by saying he had some of the money for him — but when he was invited in he was repeatedly stabbed.

It was also alleged Kiernan had arranged for Widdowson, 31, to be there to help him.

While both men admitted setting fire to the victim's car, which was found burnt out in bushland in Chidlow, they denied the murder charge.

Kiernan testified at the trial, maintaining he stabbed Mr Nguyen in self-defence because he had come at him with a knife and tried to stab him.

Kiernan described a struggle with Mr Nguyen that he said "felt like it went forever" telling the court throughout it he was "worried about dying".

Kiernan said when he realised Mr Nguyen was dead, he did not try to help him or call emergency services because he "panicked".

He said he stripped him naked before tying him up with cable ties, and with the help of Widdowson, putting him in the wheelie bin before driving it to the John Forrest National Park and dumping it in the Glen Brook dam.

The body was discovered by a 15-year-old boy about five days later.

Widdowson's lawyer maintained his client was not responsible for any of the violence against Mr Nguyen and he believed he was at Kiernan's home only to intimidate and rob him — he maintained he did not know of any plan to kill him.

Today, the jury deliberated for about three-and-a-half hours before finding both men guilty.

They both face life sentences when they're sentenced in October.

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