Vietnam's Ministry of Public Security announced on Friday the indictment and temporary detention of Nguyen Thi Nhu Loan, CEO of Quoc Cuong Gia Lai Joint Stock Company, for allegedly violating regulations on the management and use of state assets causing losses and waste.

She was apprehended in a case involving state-owned Vietnam Rubber Group, Ba Ria Rubber JSC, Dong Nai Rubber Corporation, the Ministry of Natural Resources and Environment, and other relevant entities.

On the same day, dozens of police officers raided her residence on Tran Quoc Thao Street in District 3, Ho Chi Minh City.

Investigators from the Ministry of Public Security are collecting evidence to expand their probe into the case, clarify violations Quoc Cuong Gia Lai JSC and relevant units are accused of committing, and fully recover state assets.

Loan, 64, established Quoc Cuong Gia Lai JSC in 1994. She is currently the largest shareholder of the company with a 37.05-percent stake, equivalent to some 102 million shares.

On July 17, the Ministry of Public Security detained Tran Ngoc Thuan, former member of the board of directors and general director of Vietnam Rubber Group, for allegedly receiving bribes; Nguyen Thi Hong, former vice-chairwoman of the Ho Chi Minh City People's Committee, on charges of abusing positions and powers while on duty; and Vo Sy Luc, former chairman of the board of directors of Vietnam Rubber Group, along with Tran Thoai, a member of the board of directors and deputy general director of the group, amid allegations of violating regulations on state asset management and use, causing losses and wastefulness.

In late May, police arrested Doan Ngoc Phuong, deputy director of the Department of Land Resources Planning and Management under the Ministry of Natural Resources and Environment, over bribe-taking allegations.

Le Quang Thung, former general director and acting chairman of Vietnam Rubber Group, and Huynh Trung Truc, former deputy general director of the roup, faced the same fate for allegedly violating regulations on state asset management and use, causing losses and wastefulness.

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