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LV Bank branch director arrested

Update: September, 09/2013 - 11:07

 Lam Minh Man  was also arrested for wrongly declaring the value of the company's mortgage in order to borrow VND1.6 trillion ($75.2 million) from the bank.— Photo VnExpress

HAU GIANG (VNS) — The Ministry of Public Security on Saturday arrested Do Hung So, director of Lien Viet Post Bank's branch in the Mekong Delta's Hau Giang Province for lending to the Phuong Nam Food Joint Stock Company without obeying regulations.

On the same day, Lam Minh Man, the company's chief accountant, was also arrested for wrongly declaring the value of the company's mortgage in order to borrow VND1.6 trillion ($75.2 million) from the bank.

The police are still in the process of searching the two defendants' house for further evidence in the investigation. — VNS



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