A trial is underway in Hanoi with four men accused of embezzling of around $11.5m from state-owned Vinashinlines. Three of the men held high up positions at the line a decade ago – including the former general director of the firm, its former chief accountant and the ex-head of sales. The three are joined in the dock by the father of the ex-sales head.
Prosecutors allege the four syphoned off cash when buying three ships for the line a decade ago. The four also profited by taking cash from nine ships it chartered in around a decade ago, the court was told.
A verdict is due at the start of next week. Hanoi tends to take a dim view of any corruption at state-run firms; a number of former executives at the country’s top shipbuilder were handed death sentences in other corruption trials in recent years.
Vinashinlines applied for court protection in 2014 – much of its fleet has since been sold.