Dinh La Thang faces further prosecution for wrongdoing at PVC

Friday, 2017-12-22 04:26:20
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Dinh La Thang
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NDO - Dinh La Thang is set to face further prosecution as the police have concluded their investigation into the case of intentionally violating state regulations on economic management and embezzlement at PVN and its subsidiary PVC.

Criminal prosecution is being sought against Thang, former chairman of the state-owned oil giant PVN and 11 other defendants for economic mismanagement, while another eight are facing prosecution for embezzlement.

Trinh Xuan Thanh, former chairman of PVC and Vu Duc Thuan, former general director of PVC, face both charges, according to an announcement made by the police on December 21.

Results from the investigation show that during the implementation of the Thai Binh 2 Thermal Power Plant, Dinh La Thang assigned PVC to carry out the engineering, procurement and construction package and directed subordinate individuals and units to sign contracts illegally.

Then, based on the illegitimate contracts, Thang went on to direct PVN to advance US$6.6 million and VND1.312 trillion (US$57.7 million) in breach of the relevant regulations.

Thang’s act caused a loss of nearly VND120 billion (US$5.3 million) to the government.

For his part, Trinh Xuan Thanh, in addition to his involvement in the VND120 billion loss, alongside Vu Duc Thuan, directed their subordinates to forge documents in order to withdraw VND13 billion (US$572,000) from the Vung Ang-Quang Trach project for personal gains.

Trinh Xuan Thanh, as well as seven other defendants, also faces the charge of embezzlement in another criminal case involving PVP Land, an affiliate of PVC.

Thanh turned himself in to the police in July after nearly one year on the run. Thanh fled abroad after he was accused of economic mismanagement resulting in the losses of nearly VND3.3 trillion (US$145 million) during his leadership.