The highest prosecutor in Vietnam has filed charges against former Vietnam Shipbuilding industry group chairman, Pham Thanh Binh, and eight other officials from the state-shipbuilder, Seatrade Asia online reports. Binh and the other officials have been charged with “deliberately acting against state regulations on economic management” by the Supreme People’s Procuracy. The charge carries up to a maximum of 20 years in jail.
Investigations found nine officials were guilt of causing a VND910bn ($43.4m) loss to the Vietnamese state. The shipbuilder nearly went bankrupt last year with debts of $4.5bn.
All nine are expected to stand trial in the People’s Court in the northern city of Hai Phong on date yet to be announced. Two of the officials charged Ho Ngoc Tung, former director of Vinashin Financial, and Giang Kim Dat, former business manager of Vinashin Ocean Shipping, have fled the country.
Investigations found nine officials were guilt of causing a VND910bn ($43.4m) loss to the Vietnamese state. The shipbuilder nearly went bankrupt last year with debts of $4.5bn.
All nine are expected to stand trial in the People’s Court in the northern city of Hai Phong on date yet to be announced. Two of the officials charged Ho Ngoc Tung, former director of Vinashin Financial, and Giang Kim Dat, former business manager of Vinashin Ocean Shipping, have fled the country.