Vinalines boss detained in $400k graft case

Thanh Nien News

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A deputy general director of the state shipping giant Vinalines was detained Thursday for his involvement in more than US$400,000 embezzlement at a subsidiary.
Vu Khac Tu was read a detention order at his home in Hanoi by police from nearby Quang Ninh Province. He will remain at the police station for the next four months.
He was accused of being involved in the theft which happened at Quang Ninh Port Company between 2011 and 2012 during his tenure as general director.

Vinalines' deputy general director Vu Khac Tu speaks at a business conference. Photo credit: Nguoi Lao Dong
Tu was recently suspended from his post at Vinalines.
Dinh Ngoc Uyen, 61-year-old former deputy director of the port company in the namesake province, was arrested on June 6 for directing his subordinates to forge documents to appropriate the money.
A cashier and a chief accountant were also arrested.
The suspects have returned most of the money to the police.
Vinalines has remained in local headlines since the middle of 2012 when its former chairman Duong Chi Dung fled the country during an investigation into a US$17 million graft case.
Dung and other executives were accused of taking kickbacks from a Russian company to buy an old used dock which cost the state $10.5 million to repair.
Earlier last month, the Supreme People’s Court upheld death sentences handed to Dung and the former general director Mai Van Phuc after convicting them of embezzling VND10 billion ($474,000) each in the case.
Eight other defendants from the company received up to 22 years in jail.
The shipping giant has had to absorb the debt-laden subsidiaries of former shipbuilder Vinashin and reported $117 million in losses in 2012.

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