Comprehensive inspection of PVC Corporation

This is a surprise inspection to inspect the compliance with laws and policies in PVC's production and business activities, focusing on investment and project implementation; the inspection period is from January 1, 2008 to December 31, 2013.

Deputy Inspector General of Government Ngo Van Khanh announced the decision to inspect PVC.

On the afternoon of October 6, the Government Inspectorate announced its decision to conduct a comprehensive inspection of the Petroleum Construction Joint Stock Corporation (PVC), a member of the Vietnam Oil and Gas Group.

According to Deputy Inspector General of the Government Ngo Van Khanh, this is a surprise inspection to inspect the compliance with legal policies in PVC's production and business activities, focusing on investment and project implementation; the inspection period is from January 1, 2008 to December 31, 2013.

The inspection period is 70 working days at the unit from the date of announcement of the inspection decision. The inspection team is led by Mr. Nguyen Duy Binh, Senior Inspector, Deputy Director of Department 1 - Government Inspectorate.

At the announcement of the inspection decision, a representative of the Vietnam Oil and Gas Group (Petro Vietnam) requested PVC and related enterprises to closely coordinate with the inspection team; provide complete documents, creating conditions for the inspection team to have accurate, objective and honest conclusions.

Previously, based on the opinion of General Secretary Nguyen Phu Trong, Deputy Prime Minister Truong Hoa Binh directed the Ministry of Public Security and relevant agencies to investigate and clarify violations that led to a loss of nearly VND3,300 billion in the 2011-2013 period at PVC, and report to the General Secretary and the Prime Minister.

Notably, the period 2008 - 2013 was the period when Mr. Trinh Xuan Thanh and Vu Duc Thuan held the highest leadership positions at PVC. Both were later determined to have committed serious violations, causing great losses to the state budget in a number of projects in which PVC invested or acted as the general contractor.

On September 15, the Ministry of Public Security's Investigation Police Agency decided to prosecute the criminal case of "intentionally violating state regulations on economic management causing serious consequences" occurring at PVC and its member units.

Accordingly, the Investigation Police Agency (C46) of the Ministry of Public Security has investigated and clarified violations in the loss of nearly 3,300 billion VND at PVC.

The Investigation Police Agency also decided to prosecute four defendants and temporarily detain Vu Duc Thuan - former member of the Board of Directors and General Director of PVC; Nguyen Manh Tien - Deputy General Director; Truong Quoc Dung - former Deputy General Director; Pham Tien Dat - former Chief Accountant of PVC for intentionally violating the law.

A day later, the Investigation Agency also decided to prosecute Mr. Trinh Xuan Thanh - former Chairman of PVC for the above crime. However, Trinh Xuan Thanh was later determined to have fled abroad, so the Ministry of Public Security issued an international arrest warrant for this suspect.

According to VnEconomy