Vietnamese bank exec arrested for embezzling $324k

Thanh Nien News

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Saigon Bank's office in Ho Chi Minh City. File photo Saigon Bank's office in Ho Chi Minh City. File photo

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The Ho Chi Minh City police are investigating a senior bank executive for allegedly embezzling around VND7 billion (US$324,000) since 2006.
They arrested Pham Van Minh, deputy director of Saigon Bank’s card center, Tuesday after he admitted to stealing the money, local media reported.
The bank had started to question the 36-year-old after an internal investigation found more than VND19.6 billion missing at the center.
But he claimed to have pocketed only a part of it.
He said he altered data to steal the money between 2006 and August 2013.
Saigon Bank is one of the lenders identified as weak and ordered to restructure or merge with a stronger bank.

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