Former MobiFone CEO arrested with deputy
Mr. Cao Duy Hai is being investigated for the crime of violating regulations on management and use of public investment capital causing serious consequences.
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Mr. Cao Duy Hai and Ms. Pham Thi Phuong Anh.Photo: Ministry of Public Security |
On November 14, the Ministry of Public Security's Investigation Police Agency (C03) prosecuted and arrested Mr. Cao Duy Hai (former General Director of MobiFone) and Ms. Pham Thi Phuong Anh (Deputy General Director) for the crime ofViolations of regulations on management and use of public investment capital causing serious consequences, according to Clause 3, Article 220 of the 2015 Penal Code.
Previously, on August 21, the Ministry of Information and Communications announced the decision of Mr. Cao Duy Hai to cease his position as General Director and member of the Board of Members of MobiFone Telecommunications Corporation.
The Central Inspection Committee concluded that Mr. Cao Duy Hai had many serious violations in advising the Board of Members of the Corporation to submit to the Ministry of Information and Communications for approval and implementation of the MobiFone project to buy 95% of shares of AVG Global Audiovisual Joint Stock Company; directly signing many documents related to the project against regulations.
"Mr. Cao Duy Hai's violations are very serious, causing great loss of state assets, negatively affecting the operations and equitization process of MobiFone, the reputation of the Party organization and the Ministry of Information and Communications, causing outrage in society," the conclusion stated.
In August, the Party Committee of the Central Business Bloc also disciplined Ms. Phuong Anh with a warning due to her lack of responsibility in participating, directly negotiating and directing negotiations with AVG shareholders. Ms. Phuong Anh directly negotiated, agreed and signed a contract to transfer shares with AVG shareholders, causing damage to Mobifone; did not check the legal status of AVG, the legality of AVG shareholders and shares...
In early 2016, the MobiFone project to buy 95% of AVG shares was revealed, but the amount was not mentioned. At that time, the Ministry of Information and Communications requested the Ministry of Public Security to put this transaction under the Confidential category - contrary to current regulations.
After the authorities intervened and concluded the project, MobiFone and AVG agreed to cancel the transfer contract. AVG shareholders returned more than VND8,500 billion, including the entire value of 95% of shares and VND60 billion for related expenses.
On July 10, the Investigation Police Agency initiated a case of Violating regulations on management and use of public investment capital causing serious consequences (Article 220 of the 2015 Penal Code) occurring at MobiFone Telecommunications Corporation and related units. Mr. Le Nam Tra (57 years old, former Chairman of the Board of Directors, former General Director of MobiFone) and Mr. Pham Dinh Trong (48 years old, Head of the Department of Enterprise Management, Ministry of Information and Communications) were prosecuted and arrested for the same crime.
