The General Director of Central Vietnam Hydropower Investment Joint Stock Company has been prosecuted.
On June 17th, the Criminal Investigation Department for Economic and Official Crimes (PC46) of the Thua Thien-Hue Provincial Police announced that they have initiated criminal proceedings against Ms. Phan Thi Hong Van, General Director of the Central Vietnam Hydropower Investment Joint Stock Company and also General Director of Duc Phuong Trading Joint Stock Company, for the crime of abusing trust to misappropriate assets.
According to the investigating agency, from April to June 2011, despite having no collateral, Ms. Van, acting as the general director of two companies, forged loan application documents at VIB Bank's Truong Tien branch in Hue, embezzling approximately 20 billion VND.
Ms. Vân is currently raising a child under 36 months old, so the investigating agency has released her on bail and prohibited her from leaving her place of residence.
Regarding this case, PC46 had previously initiated legal proceedings and arrested Ms. Le Thi Le Hang, director of VIB Bank's Truong Tien branch in Hue, for "violating lending regulations in credit activities" and "abusing trust to appropriate property".
Initial information suggests that Van and Hang were close friends who conspired to embezzle funds from the bank and then share the proceeds.
Expanding the investigation, PC46 continued to prosecute and detain Le Ngoc Dung (28 years old, residing in Xuan Phu ward, Hue City) - a specialist at VIB Bank, Truong Tien branch, Hue - for the act of "violating lending regulations in credit activities".
During the investigation, Dung admitted that his actions violated lending regulations but that he had to follow orders from Director Hang.
According to Tuoi Tre - TH
