PVN’s former general director prosecuted for economic mismanagement

Wednesday, 2017-12-20 11:12:32
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PVN's former general director Phung Dinh Thuc
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NDO - Phung Dinh Thuc, former general director of the National Oil and Gas Group (PVN), has been prosecuted on charges of intentionally violating state regulations on economic management, leading to serious consequences.

Thuc, born 1954, is accused of wrongdoing in directing the implementation of the Thai Binh 2 Thermal Power Plant, which caused huge losses to the state, while the project has yet to be put into operation.

The police brought the prosecution against Thuc on December 20, while investigating a case of economic mismanagement and embezzlement at PVN and the PetroVietnam Construction Corporation, a subsidiary of PVN.

One day ago, Phan Dinh Duc, a board member of PVN, was also prosecuted on the same charges as part of an investigation into PVN’s loss of VND800 billion (US$35.2 million) when investing in Oceanbank.

The probe into misconduct at PVN has led to the arrest of many senior executives, notably Dinh La Thang, who was a former chairman of the group before being promoted to transport minister and then head of the Ho Chi Minh City Party Committee.

Earlier in May, Thang had been removed from the Politburo and stripped of his post as Party chief of Ho Chi Minh City after being found to have committed multiple serious violations.

He was arrested on December 8 after having his parliamentary membership and all Party activities suspended.