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>> Tax concessions for Vietnam shipbuilder Vinashin
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An investigation by the Ministry of Public Security has led to the arrest orders of two more officials from the troubled shipbuilding giant, Vinashin.
The police, on February 15, decided to charge two officials from Vinashin with the crime "Delibrately violating the State’s regulations on economics management causing serious consequences.”
Those charged were Hoa Ngoc Tung, member of Board of Directors and Finance General Director of Vinashin, and Trinh Thi Hau, former General Director of Vinashin Finance Company, a subsidiary of Vinashin.
Hau was taken into custody on February 15, after a search of her home and office.
In the meantime, police also have launched an investigation into Tung, who is currently undergoing medical treatment in Australia.
According to the accusations, Tung and Hau colluded to approve loans totaling VND60 billion (USD2.89 million) using money raised through government bonds.
They also allegedly conspired in illegal financial agreements, including the purchase of obsolete equipment for Song Hong thermal power project.
This happened while Hoang Anh Shipbuilding Industry JSC was the project’s investor.
VFC had mortgaged an old ship named Bach Dang Giang, which belonged to Nam Trieu Shipbuilding Industry Corp (NASICO). The deal ended in big losses to Vinashin.
So far, eight Vinashin officials have been arrested and a warrant has been issued for Giang Kim Dat, the former business manager of a subsidiary company.
