Thursday, August 13 2020


Four PVN’s oil officials detained on charges of power abuse, asset misappropriation

Update: June, 22/2018 - 20:44
Từ Thành Nghĩa (left), former General Director of the Việt Nam - Russia oil and gas exploration joint venture (Vietsovpetro), under the State-owned oil group PetroVietnam (PVN) and Võ Quang Huy, former chief accountant of Vietsovpetro. — Photo
Viet Nam News

HÀ NỘI — Four persons, including two executives, at the State-owned oil and gas group PetroVietnam (PVN) were detained yesterday on charges of abusing power to misappropriate assets.

This was announced by the Investigation Police Bureau for Economic Management Order Offences (C46), which also initiated proceedings against the two executives.

The C46 issued arrest and search warrants against Từ Thành Nghĩa, former general director of the Việt Nam-Russia oil and gas exploration joint venture (Vietsovpetro) under PVN, and Đinh Văn Ngọc, former general director of the Binh Son Refining and Petrochemical Co. Ltd, also owned by PVN.

Two high-ranking officials, Võ Quang Huy, former chief accountant of Vietsovpetro, and Nguyễn Tuấn Hùng, former head of the financial desk of the PetroVietnam Exploration Production Corporation, were also remanded in custody yesterday being charged with abuse of power at the three companies. The Supreme People’s Procuracy approved the warrants the same day. In May this year, Vietsovpetro had accepted the resignation of Nghĩa and Huy.

Nghĩa and Huy were alleged to have received bribes from private-owned OceanBank’s former general directors Nguyễn Minh Thu and Nguyễn Xuân Sơn to choose of the bank’s services. The two denied the allegations, however.

According to Việt Nam’s penal code, the highest punishment for abusing power to misappropriate assets is life imprisonment. Further investigation into the case is underway to identify related individuals and the full extent of the damage as well as to recover lost State assets. — VNA



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