Further arrests linked to Vietnam yard fraud

The multi-million dollar fraud scandal surrounding Vietnam’s top shipbuilder has snared another couple of executives.

A former Vinashin chief and a serving deputy chief of its successor company SBIC have been arrested accused of participating in the misappropriation of $4.5m.

Police took Truong Van Tuyen, retired general director of the state-run shipbuilding giant, and Pham Thanh Son, deputy general director of the Shipbuilding Industry Corporation (SBIC), yesterday for “abuse of power or position to appropriate property” while at Vinashin.

Vinashin was rebranded as SBIC five years ago. Hanoi has been charging many executives linked to the shipbuilding group in a giant fraud scandal.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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