Viet Nam News
HÀ NỘI – The Supreme People’s Procuracy has decided to prosecute three former officers of Vinashin Ocean Shipping Company Ltd, or Vinashinlines on charges of embezzlement.
They are Trần Văn Liêm, former director general of Vinashinlines, Trần Văn Khương, former chief accountant and Giang Kim Đạt, former sales manager.
Đạt’s father, Giang Văn Hiển, faces charges of money laundering.
According to the indictment, from July 2006 to March 2007, as director general of the company, Liêm signed contracts to buy three foreign ships and he authorised Đạt to negotiate with foreign partners.
Đạt received a commission of between 2 and 3.75 per cent of the total contract value after each transaction. This amount of money would be transferred to a bank account in Hiển’s name, according to investigators.
Liêm, Đạt and Khương had conspired with ship owners to rig prices and earn profits. They pocketed an amount of some VNĐ249 billion (US$11.2 million) from May 2006 to June 2008.
The total amount of money that the trio misappropriated in the scam amounted to over VNĐ260 billion ($11.7 million), the indictment said.
The former general director of Vinashinlines misappropriated VNĐ3.1 billion ($140,000), while Đạt and Khương embezzled over VNĐ255 billion ($11.5 million) and US$110,000, respectively.
The police investigation found that after the money was transferred to his bank account, Hiển had withdrawn some money for Đạt to buy some 40 villas and luxury apartments as well as 13 cars in his, or his relatives’ name.
It is expected that the trial for the embezzlement scandal at Vinashinlines will be held by the end of this year or early next year.— VNS