Tuesday, April 24 2018

VietNamNews

Ex-PVN chief faces further charges

Update: December, 23/2017 - 12:27
Dinh La Thang, former Chairman of the Member Council of PetroVietnam - VNA/VNS Photo

Viet Nam NewsHÀ NỘI – Đinh La Thăng, former chairman of the Member Council of PetroVietnam (PVN), is set to face further prosecution after investigations conclude in the case of wrongdoings at PVN and its subsidiary PetroVietnam Construction Corporation (PVC).

The Investigative Police Department under the Ministry of Public Security announced on Thursday that they have also proposed prosecuting of Trịnh Xuân Thanh, former chairman of PVC.

Accordingly, Thăng and 11 other defendants, also former officials of PVN and PVC, will be prosecuted on charges of “deliberating violating State regulations, causing severe consequences”.

Eight other defendants will be prosecuted for misappropriating property.

Trịnh Xuân Thanh, former Chairman of PVC, and Vũ Đức Thuận, former Director General of PVC, will be prosecuted on both counts.

Earlier on Tuesday, the department had proposed that Thăng be prosecuted for intentionally violating State regulations on economic management, causing serious consequences and abusing his position and power to misappropriate assets at PVN, causing losses of VNĐ800 billion (US$35.5 million) in PVN’s investment in OceanBank. 

Thăng is also suspected to have had a role in violations including embezzlement in the PVC case relating to the Thái Bình 2 thermal power project. 

According to investigators, while the Thái Bình 2 Thermal Power Plant was being built, Thăng assigned PVC to carry out the engineering, procurement and construction package and directed subordinate individuals and units to sign contracts illegally.

Then, based on the illegitimate contracts, Thăng went on to direct PVN to advance $6.6 million and over VNĐ1.3 trillion ($57.7 million) in breach of the relevant regulations.

Thăng’s actions caused losses of nearly VNĐ120 billion ($5.3 million) to the Government, the investigation report says.

For his part, Trịnh Xuân Thanh, in implementing the Thái Bình 2 Thermal Power Plant project, directed Vũ Đức Thuận, former Director General of PVC, to sign contracts for PVC to get an advance deposit of $6.6 million and VNĐ1.3 trillion.

Thanh also directed the use of over VNĐ1.1 trillion from the deposit for purposes other than construction of the power plant, it is alleged.  

Early this month, the Politburo had suspended Thăng from Party-related activities as of December 8, 2017. The same day, the 14th National Assembly’s Standing Committee adopted a resolution suspending Thăng as a parliament member. In April this year, the Party Central Committee’s Inspection Commission had decided to consider disciplinary action against seven former top executives of PetroVietnam, including Thăng.

Thăng was Secretary of the Party Committee and Chairman of the Board of PetroVietnam from 2009-2011. – VNS

 

 

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