The Supreme People’s Procuracy has indicted Nguyen Van Tuyen, former director of the Hoang Anh Shipping Industry JSC, a subsidiary of the notorious state-run Vietnam Shipbuilding Industry Corporation (Vinashin), on charges of embezzlement.

>> Former Vinashin chairman gets 20 years in jail>> Int’l search out for former Vinashin’s CFO>> Vinashin’s executive and 8 accomplices prosecuted The Procuracy also charged 60-year-old Do Dinh Con, former chief accountant and deputy general director at Hoang Anh, with “not reporting crimes”. Tuyen and Con are now serving their 16-year and 10-year sentences respectively for “intentionally violating economic management regulations, causing serious consequences” in a previous scandal at Vinashin. According to the indictment, Hoang Anh Shipping Industry JSC was established in May 2003 with Vinashin contributing 51 percent of the charter capital, Tuyen contributing 41.5 percent and two other persons accounting for the rest. In August 2004, Tuyen set up Vinaha, a construction transport joint stock company, which is located at the Hoang Anh JSC’s head office and had a registered capital of VND10 billion. Even though Vinaha had its own legal status, it acted as an affiliate of Hoang Anh JSC. On December 25, 2006, Tuyen ordered his staff to withdraw VND4.5 billion from Hoang Anh JSC’s bank account with a cheque signed by Con. Tuyen told Hoang Anh JSC’s accounting department that the amount was an advance to Cuu Long Investment and Trading JSC, but he later spent the entire sum on his personal needs. In early 2007, after Cuu Long confirmed that it had not received the amount, Tuyen asked Con to forge invoices indicating the VND4.5 billion amount as expenses that would have to be paid by Vinaha. Tuyen’s embezzlement act was recently discovered by investigators who have been investigating economic activities at Vinashin and its affiliates. As previously reported, the Hai Phong City People’s Court in March tried nine defendants, including Tuyen and Con in a case of “intentionally violating economic management regulations, causing serious consequences” at the loss-making Vinashin group. At the hearing, former chairman of Vinashin Pham Thanh Binh, 59, was sentenced to 20 years in prison. Last month, Vinashin reported it suffered a loss of VND1.439 trillion ($69.2 million) in the first half of 2012 due to falling demand for freight transportation. Meanwhile, a government report submitted to the National Assembly in July showed that the loss-ridden group was burdened with a total debt of more than VND43 trillion ($2 billion) in the January-June period, of which VND33.82 trillion was long-term debts.