Central judicial leaders have met and agreed before police arrested bank tycoon Nguyen Duc Kien, said a senior investigator who added that the police received orders from the Prime Minister.

“Police are vigorous in getting rid of worms in the banking sector”, read one article published in Vietnamese on chinhphu.vn, the official website of the Vietnamese government.

This article includes an interview with Colonel Nguyen Duc Thinh, head of the Economic Police Department under the Ministry of Public Security.

Colonel Thinh told chinhphu.vn that the arrest came after police received many denunciation letters telling about the violation of Kien’s three companies.

Thinh added that all such accusations were then reported to the Minster of Public Security Tran Dai Quang and deputy minister Pham Quy Ngo.

Thinh told chinhphu.vn that “before the arrest of Kien, leaders of the central judicial sector have met and agreed. The process of arresting Kien and searching his house was in compliance with the law. We have reported the matter to the Prime Minister [Nguyen Tan Dung] and received orders from the Prime Minister”.

He added that the announcements of the police and of the State Bank of Vietnam governor are very clear: Kien committed economic crimes in the three companies of which he is chairman. He is not involved in the management of ACB.

When asked if he suffered any pressure in the investigation because Kien is very influential in society, Thinh replied that everyone is equal before the law so they are under no pressure.

“We abide strictly by the regulations of the criminal prosecution law”.

As earlier reported, one of Vietnam’s most powerful tycoons Nguyen Duc Kien - a household name in the financial market and football sector - was arrested Monday evening over charges of engaging in illegal business, sending shockwaves across the country.

The multi-millionaire Kien is co-founder of Asia Commercial Joint Stock Bank (ACB), one of Vietnam’s largest banks. He is currently one of the richest persons in Vietnam. Just three days after his arrest, the Vietnamese stock market lost US$3.85 billion.