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Thursday,  Jan 18, 2018,13:12 (GMT+7)
One more former PVN leader charged
The Saigon Times Daily
Thursday,  Dec 21, 2017,23:05 (GMT+7)
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One more former PVN leader charged

The Saigon Times Daily

Former PVN general director Phung Dinh Thuc - PHOTO: TIENPHONG.VN

HCMC – The list of former leaders of State-run oil giant PVN charged with economic mismanagement has been lengthened as a former PVN general director has been prosecuted.

The Ministry of Public Security on December 20 announced its decision to charge Phung Dinh Thuc, former general director of Vietnam Oil and Gas Group (PVN), with deliberately violating State regulations on economic management causing serious consequences under Article 165 of the Penal Code. He is now under house arrest.

He allegedly breached regulations while overseeing the construction of Thai Binh 2 thermal power project in the northern province of Thai Binh.

Filing charges against Thuc is part of an expanded investigation into economic mismanagement and graft at PVN and its subsidiary PetroVietnam Construction JSC (PVC).

After having held the post of PVN general director for two years, Thuc was promoted to the post of chairman of PVN in September 2011 and retired in June 2014.

According to the outcome of the 14th session of the Party Central Committee’s Inspection Commission, Thuc must be held responsible for the violations committed by the Standing Board of PVN’s Party Committee in the 2011-2014 tenure, and for the resolutions issued by PVN’s board and believed to have caused severe consequences.

He was also found to make a wrongful review on former PVC general director Trinh Xuan Thanh and to not direct an inspection of violations committed by Nguyen Xuan Son, former general director of Ocean Bank to which PVN contributed VND800 billion. Thuc was involved in the process of appointing Nguyen Xuan Son as chairman of the board and Party chief of PVN.

The Inspection Commission also held Thuc accountable for the shortcomings and violations at Dinh Vu polyester fiber factory and bio-fuel plant projects.

The Ministry of Public Security has charged over 20 current and former PVN senior executives including three ex-chairmen, namely Dinh La Thang, Nguyen Quoc Khanh and Nguyen Xuan Son.

On Monday, Ministry of Public Security investigators filed charges against Phan Dinh Duc, board member of PVN. He is allegedly involved in VND2 trillion (US$88.06 million) losses at Ocean Bank, including VND800 billion contributed to this bank by PVN.

He is charged with deliberate violation of State regulations on economic management causing serious consequences. Duc is now under house arrest. He has been sitting on the PVN board since November 2010.

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