Former Vinashin executives charged for corruption

Former Vinashin executives charged for corruption

Four former executives of state-run Vietnam Shipbuilding Industry Group (Vinashin), now Shipbuilding Industry Corporation (SBIC), have been charged by Vietnam’s Supreme People’s Court for corruption activities.

The accused four are Nguyen Ngoc Su former chairman of Vinashin’s members’ council, former general director Truong Van Tuyen, former deputy general director Pham Thanh Son, and former chief accountant Tran Duc Chinh, were charged with “abusing power to appropriate assets”.

According to the court’s indictment, the four together agreed to make fixed-term deposits at OceanBank to gain extra interest that was not stated in deposit contracts. They have gained illegal income of VND10bn ($431,000) in total for themselves.

The case is part of the corruption investigations into the former chairman of OceanBank Ha Van Tham and his accomplices.

Vietnam has been making efforts to crack down on corruption in the maritime sector, and have sent a number of officials from both Vinashin and Vinashinlines to prision.

Jason Jiang

Jason worked for a number of logistics firms following his English degree, then switched this hands-on experience to writing and has since become one the most prolific writers on the diverse China logistics industry writing for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week. Jason’s access to the biggest shippers with business in China has proved an invaluable source of exclusives.

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