Monday, November 19 2018

VietNamNews

Runaway executive added to wanted list

Update: June, 01/2018 - 14:00
Vũ Đình Duy, former general director of the Petrochemical and Textile Fibre Joint Stock Company (PVTex). - File photo
Viet Nam News

HÀ NỘI Police announced on Thursday evening it had issued a wanted notice against former company executive Vũ Đình Duy, under whose leadership a State-owned firm lost millions of dollars.

Police said the decision was made after they determined that Duy was on the run from the investigation. He was last seen in Việt Nam nearly two years ago, when he flew out of the country on October 22, 2016 to seek “medical care”.

At the time, the 43-year-old was the general director of the Petrochemical and Textile Fibre Joint Stock Company (PVTex), a subsidiary of the Việt Nam Oil and Gas Group.

The police on Thursday also said it had decided to initiate a probe against Duy for bribery, adding another charge against him. Duy has been under investigation for violating the State’s regulations on economic management and causing significant financial losses to the company since June last year.

With Duy at its helm, the PVTex was found to have suffered losses of nearly VNĐ1.5 trillion (US$66.6 million), and ended up being shut down after two years of on-and-off operations. VNS

 

 

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