Vinashin’s Former Execs Face Criminal Charges
Vietnam’s Ministry of Public Security has proposed criminal charges against three former executives of Vinashin Ocean Shipping, and another person, for pocketing an amount of some USD 16 million during the period from 2006 to 2008, local media reported.
The former CEO of Vinashin Ocean Shipping, Tran Van Liem, together with the company’s former sales manager Giang Kim Dat and former chief accountant Tran Van Khuong, are facing embezzlement charges, while the fourth person, Giang Van Hien, is facing charges of money laundering, the ministry earlier said.
Namely, Giang Kim Dat embezzled money from 16 transactions related to buying or leasing vessels, as he conspired with foreign partners to set prices.
The investigators also revealed that the company’s former CEO received payments of nearly USD 145,000, while the former chief accountant received USD 120,000.
The 39-year-old Giang Kim Dat was arrested in July, 2015, after being on the run for five years to avoid a probe into the alleged corruption.
Following the arrest, he reportedly confessed to pocketing nearly USD 19 million through the purchase of a used, Italian-made ship in 2007. The ship was paid USD 67.5 million, with further USD 300,000 spent on repairs.
An investigation into Dat’s alleged illegal activities was launched in August 2013.
The authorities started the investigations after Vinashin accumulated USD 4.5 billion in debts in 2010.
World Maritime News Staff