Lê Văn Chung, former chairman of the members’ council of Vicem. — Photo plo.vn

HÀ NỘI — The Hà Nội People’s Court will open a first-instance trial on January 26 involving officials of Vietnam Cement Corporation (Vicem), in a case linked to significant financial losses and alleged misuse of State assets.

The defendants include Lê Văn Chung, former chairman of Vicem’s members’ council, along with 13 accomplices. The trial is expected to last one week.

According to the indictment issued by the Supreme People’s Procuracy, Chung and six others were charged with violating regulations on the management and use of State assets, causing losses and waste, as stipulated in Article 219, Clause 3 of the Penal Code. Four defendants were charged with violating bidding regulations, causing serious consequences under Article 222, Clause 3, while three others face both charges.

The indictment states that during the investment and construction of Vicem’s operation and trading centre in the Cầu Giấy new urban area in Hà Nội, the defendants deliberately falsified financial indicators and misjudged the project’s economic efficiency, leading to approval of an investment level exceeding the certified limit.

The centre, which broke ground in May 2011, completed structural construction and topping-out in August 2015 but was later suspended due to inefficiency. Although total investment reached more than VNĐ1.2 trillion (US$45.7 million), the project remains unused, causing losses and waste exceeding VNĐ381.6 billion, the indictment says.

During a construction package for diaphragm walls and bored piles, several defendants allegedly colluded with contractors to manipulate the bidding process for personal gain.

Lê Văn Chung, as the highest-ranking official, bore primary responsibility for approving the inefficient plan to build a headquarters combined with office leasing and signed off on an investment total above the certified level.

During the investigation, Chung admitted his violations and voluntarily handed over VNĐ600 million and two savings books valued at VNĐ1 billion. — VNS