Hanoi police have charged a former Ministry of Finance official with fraud for allegedly cheating many local company executives out of billions of dong.

Tran Anh Tuan, 37, formerly a deputy chief at the ministry’s Administrative Finance Department, abused his credibility to pocket VND80 billion (US$3.8 million), they said.

In one instance, last year he told Tran Duc Duong, the director of a Hai Phong-based company, he could help Duong’s company win a contract to upgrade a university in Phu Tho Province.

Tuan demanded VND4 billion for that, and Duong paid him VND1.5 billion ($71,500) in advance.

After hearing nothing from him for three months, Duong tried to contact Tuan but could not reach him.

In another case, Tuan borrowed VND1.2 billion from the director of a Hanoi company. When the repayment deadline came, Tuan switched off his mobile phone.

He went abroad late last year and has not returned to Vietnam.

The police said they would soon issue an arrest warrant for Tuan.