ĐÀ NẴNG — Police on Wednesday charged two former top leaders of Đà Nẵng City in connection with the crimes of real estate mogul Phan Văn Anh Vũ for causing nearly VNĐ20 trillion (US$860 million) of losses to the State.

Trần Văn Minh, former chairman of the Đà Nẵng People’s Committee for the 2011-16 term, and his successor, Văn Hữu Chiến, were accused of committing breaches in managing and using State’s assets causing losses and wastefulness and violations in land management.

According to the police, Vũ, nicknamed Vũ nhôm, ex-chairman of the 79 North South Construction JSC, constantly worked behind the scene to set up five real estate agencies under either his name or the names of his family members between 2002 and 2017. He targeted public land in the coastal city and managed to acquire 21 State-owned buildings and seven land projects not via public bidding as required by the law.

Vũ was able to buy those buildings and land lots at a much lower price than those regulated by the Đà Nẵng People’s Committee with the help of two top city officials.

Minh and Chiến were the tasked with managing State’s assets and public land in the city during their time in office between 2006 and 2014.

According to the police, the two repeatedly signed orders to illegally transfer land use rights over to Vũ.

Their actions, along with those of 18 others, caused an estimated loss of nearly VNĐ20 trillion ($860 million) to the State.

Vũ was already serving his sentence of nine years behind bars after a Hà Nội court found him guilty of deliberately disclosing state secrets last year. — VNS