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| General Director of the Việt Nam National Oil and Gas Group (PetroVietnam) Phùng Đình Thực makes a speech at an event when he was still in office. — Photo pvoil.com.vn |
Viet Nam News
HÀ NỘI — The police on Tuesday decided to prosecute former General Director of the Việt Nam National Oil and Gas Group (PetroVietnam) Phùng Đình Thực for causing serious economic loss.
The Investigation Police Department under the Ministry of Public Security issued a decision to start legal proceedings against Thực for alleged deliberately violating the State’s regulations on economic management, causing serious consequences, according to Article 165 of the Penal Code.
He was suspected of committing violations while directing the implementation of the Thái Bình 2 thermal power project.
The prosecution of Thực was part of the police’s investigation into the case of deliberately violating the State’s regulations on economic management, causing serious consequences and committing embezzlement in PetroVietnam and PetrolVietnam Construction Corporation.
Thực, born in 1954, was banned from leaving his residence area at Dịch Vọng new urban area, Dịch Vọng Ward, Cầu Giấy District.
He served as PetroVietnam’s general director between 2008 and 2010, and as its chairman from 2011 to 2014.
In a related move, the Investigation Police Department also decided to prosecute a former board member of PetroVietnam, Phan Đình Đức, over allegations of deliberately violating the State’s regulations on economic management, causing serious consequences.
He was suspected of mismanagement in the case involving PetroVietnam’s investment in OceanBank, which caused a loss of over VNĐ800 billion (US$35.4 million). — VNS
