Authorities in the northern province of Quang Binh have sacked the president of the local university for causing a total of VND2.3 billion (US$117,978) in losses, Vietnamnet reported on Monday.
The news website quoted the provincial inspectorates' June findings as saying that Nguyen Huynh Phan allowed many critical violations to take place in the school's financial management between October 2006 and June 2009.
His violations included contracting the joint-venture of H&T Architecture Co.,Ltd and T&T Construction Consultancy Company to consult the school about a construction project in July 20, 2008, although the joint-venture wasn't founded until September 19, 2008.
This has led to erroneous estimates related to the project, according to Vietnamnet.
Police are currently going through the school's financial records.