The general department of Vietnam's anti-crime police have now completed their initial investigation into a serious embezzlement case that caused massive losses at the state-owned Vietnam Food Industries joint-stock Company (VIFON).
Police from the anti-corruption division, Ministry of Public Security, have confiscated nearly VND70 billion ($3.8 million).
Pham Quoc Thanh, Deputy Director of Crime Investigation Police Department C37, said that police had discovered that Nguyen Thanh Huyen, the former Deputy General Director, and Nguyen Bi, former General Director of VIFON, had instructed subordinates to falsify documents in order to steal large sums of money from VIFON from 2003-2005 during a period of equitisation.
After allegations surfaced, police decided to put the men into temporary detention and prosecute them for embezzling public property.
Three other officials were prosecuted in September 2009 for their “purposeful infringement of the national rules and regulations causing serious losses" including: Dam Tu Lien, chief accountant, Duong Thi Man, accountant, and Ka Thi Thu Hong, a cashier.
Embezzlement resulted in tens of billions of dong being taken.
On July 13, 2009, VIFON’s partner, Acecook company, turned over a total number of over VND14 billion ($756,000) to the Public Security Investigation Agency. The Public Security Investigation Agency confiscated a total number of over VND43 billion ($2.3 million) that VIFON and Acecook joint venture stole from the national budget.
Currently, the police are further investigating the case.
