Deputy General Director of Binh Son Refinery and Petrochemical Company arrested.
Mr. Vu Manh Tung, Deputy General Director of Binh Son Refining and Petrochemical Company Limited, has been prosecuted for abusing his position and authority to misappropriate assets.
On April 27, the Investigation Police Department of the Ministry of Public Security (C46)The authorities decided to prosecute, arrest, and search Vu Manh Tung (44 years old), Deputy General Director of Binh Son Refinery and Petrochemical Company Limited, for the crime of abusing his position and power to appropriate property, according to Article 355 of the 2015 Penal Code.
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| The suspect is Vu Manh Tung. |
The application of legal proceedings against Mr. Tung is part of the ongoing investigation into the case involving Binh Son Refining and Petrochemical Company Limited (BSR) and Ocean Bank.
The case was initiated in September 2017 and falls under the direction of the Central Steering Committee on Anti-Corruption.
Previously, on September 13, 2017, during the second phase of the investigation into the OceanBank case, C46 initiated criminal proceedings in three cases for the crime of abusing official positions and powers to misappropriate assets occurring at Binh Son Refining and Petrochemical Company Limited (BSR); the Vietnam-Russia Joint Venture Vietsovpetro (VSP); and the Vietnam National Petroleum Exploration and Production Corporation (PVEP).
According to the allegations, this was done in accordance with the directives of the Chairman of the Board of Directors of OceanBank.Ha Van ThamRegarding the payment of interest outside of contractual agreements to depositors, from 2010 to November 2014, OceanBank disbursed over 1.576 billion VND. Of this amount, Binh Son Refining and Petrochemical Company Limited received over 19 billion VND.
Investigators allege that the receipt and use of these funds, in addition to interest payments, show signs of an off-book agreement between the leaders of the three oil and gas companies and the leaders of OceanBank.
In September 2017, at the first-instance trial of the OceanBank mega-case, Mr. Vu Manh Tung, in his role as head of finance and planning, was summoned to court to clarify the 19 billion VND that defendant Nguyen Minh Thu (former General Director of OceanBank) claimed to have spent on Binh Son Refinery and Petrochemical. Before the panel of judges, Mr. Tung denied the claim and affirmed: "Personally, I did not receive any extra interest payments from defendant Thu and OceanBank."