Vietnam oil firm chief arrested in $7-mln smuggling scam

TN News

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Police from the Ministry of Public Security have arrested the head of a state-run petroleum company for allegedly violating anti-smuggling laws to illegally sell more than 6,600 tons of oil products worth nearly US$7 million.

Nguyen The Dung, 58, general director and chairman of the Dong Thap Petroleum Trading Company (Petimex) based in the Mekong Delta province of Dong Thap, will be held in custody for four months pending investigations.

The police said since 2012 Dung's company imported fuel for export but sold it to a duo in the northern province of Quang Ninh, who in turn sold it to customers in China.

The temporary import of oil products is allowed only to re-export to Laos and Cambodia, and provided with tax breaks.

Truong Huu Co, 48, director of the Dong A Transport and Trading Company, which transported the fuel, has also been taken in.

Last month Vi Van Dung, 46, of Quang Ninh was arrested for his involvement in the case.

The police said he bought oil from The Dung and sold to Chinese customers.

A woman is also wanted by the police for a similar offence.

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