JavaScript is off. Please enable to view full site.

Vietnam jails shipbuilding executive in graft crackdown

Thursday, June 13, 2019, 09:59 GMT+7
Vietnam jails shipbuilding executive in graft crackdown
Vietnam has launched an unprecedented crackdown on corruption. Photo: AFP

A Vietnam shipbuilding magnate has been sentenced to 13 years in jail for embezzlement, according to state media, the latest victim of an unprecedented anti-corruption drive in the Southeast Asian country.

Scores of bankers, businessmen and current and former officials have been jailed in the crackdown that has gathered steam since 2016, when the government vowed to stamp out graft.

The current administration has widened its drive to target mismanagement in the oil industry, the security services and the banking sector.

On Wednesday a court in Hanoi jailed Nguyen Ngoc Su, the former board chairman of state-run Vietnam Shipbuilding Industry Group (Vinashin), for "abusing position and power to appropriate assets", according to state press.

Former director Truong Van Tuyen was jailed for seven years on the same charges, while an ex-deputy director Pham Thanh Son got six years.

The men were convicted for depositing Vinashin capital into the Ocean Bank without the Prime Minister's approval, as required by law.

The court said they colluded with the bank to pocket $4.5 million.

"The defendants' acts were very serious," said Cong An Nhan Dan, the official mouthpiece of the Ministry for Public Security.

Ocean Bank is already embroiled in a scandal of its own.

Dozens of bankers and executives from the privately-owned lender have been jailed for mismanagement and corruption -- including its former director, who was sentenced to death for embezzlement in 2017.

Vinashin was once a crown jewel in Vietnam's state-run enterprises but has fallen from grace thanks to a series of misguided investments and controversies.

It nearly collapsed in 2010 before the state stepped in to save it, and today runs at a fraction of its former might.

Vietnam's president and Party leader Nguyen Phu Trong has vowed to scrub out corruption at every level.

Observers say the anti-corruption drive that he has spearheaded is unprecedented in its scope and scale.

AFP - Tuoi Tre News

More

Read more

;

Photos

VIDEOS

Experience summer sand-boarding in Mui Ne

Sand-boarding, a popular activity amongst local children in the coastal tourism town of Mui Ne in south-central Vietnam, is attracting hundreds of tourists to the Red Sand Dunes

Young maple trees given better protection as Hanoi enters rainy season

The trees are currently growing well, with green leaves and healthy branches.

Hunting skinks for food in southern Vietnam

Skink meat is known to be soft, tasty, and highly nutritious.

Vietnamese-made app allows people to grow real veggies via smartphone

Nguyen Thi Duyen, a young engineer in Hanoi, developed the app and its related services to help busy people create their own veggie gardens.

Chinese tourists hit by Vietnamese over dine and dash

Four Chinese were reportedly injured, with one having a broken arm.

Latest news

China earthquake kills 12, injures 134

State broadcaster CCTV showed footage of rescuers bringing a survivor out of the rubble of a building on a stretcher overnight. Other images showed a woman being helped out of another collapsed structure

Saigonese exchange e-waste for trees

People exchanged over 1,000 unusable electronic devices for potted succulents or environmentally friendly gifts at the event in Ho Chi Minh City