A ship of state-owned shipping line Vinashinlines. File photo
The Ministry of Public Security's investigators on Tuesday took into custody a man for his alleged involvement in the misappropriation of millions of dollars at a state-owned shipping line.
Tran Van Khuong, 65, a former chief accountant at Vinashin Ocean Shipping Co. Ltd, which was formerly run by shipbuilding giant Vinashin, is now being investigated on charges of embezzlement.
Khuong's arrest came more than three months after the ministry nabbed Giang Kim Dat, 38, who later admitted to appropriating $18.6 million when he was working as a sales manager at the company, better known as Vinashinlines.
Dat started working for Vinashinlines in May 2006, and fled the country in August 2010, when the ministry started looking into dubious business deals at Vinashin and its subsidiaries.
Tran Van Khuong, 65, a former chief accountant at Vinashinlines, has been arrested on charges of embezzlement. Photo provided by the police
As a consultant to Tran Van Liem, the then CEO of Vinashinlines, in making ship purchases and leases, Dat allegedly colluded with foreign partners to rig prices to steal from state funds.
Liem, 60, is now serving a 19-year jail term, after being convicted of "deliberately violating state regulations on economic management" in 2012.
Eight other executives of Vinashin, including chairman Pham Thanh Binh, were then sentenced to three to 20 years in prison for their violations, which caused losses of over VND980 billion (US$40.98 million).
Vinashin, which had piled up $4.5 billion of debt by 2010, was restructured into the Shipbuilding Industry Corporation in 2013.
Vinashinlines was transferred to shipping giant Vinalines along with a few other subsidiaries. But in May last year the government approved the company's filing for bankruptcy.