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VietNamNews

Former Foodstuff director arrested

Update: April, 24/2012 - 12:15

HA NOI – Police have charged and detained former Northern Foodstuff Company director Le Van Bang, 58, for allegedly violating State regulations on economic management, causing serious consequences.

Bang of Ha Noi's Hoan Kiem district is also a former deputy general director of the Viet Nam National Tobacco Corporation (Vinataba).

Police under the Ministry of Public Security said that as director of Northern Foodstuff in 2007, Bang colluded with Nguyen Khac Tung, 47, director of the Ha Noi-based Tung Duong Private Company, and Le Van Duc, 47, branch director of An Phuc Company, to draw up several purchase contracts between Northern Foodstuff and Tung Duong companies.

Police allege the purchase contracts for corn seed worth VND16 billion (US$762,000) were fraudulent.

Police also detained Tung and Duc on charges of fraudulent appropriation of property. – VNS

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