The police has launched criminal proceedings against Nguyen Ngoc Su, former chairman of the members council of the Vietnam Shipbuilding Industry Corporation (Vinashin).

Nguyen Ngoc Su, former chairman of the members’ council of the Vietnam Shipbuilding Industry Corporation (Source C46)

Su is accused of “abusing his position and power while on duty” and is under temporary detention. A search warrant was issued by the Investigation Police Agency for Economic Management Order Offences (C46) on January 25.

During the second phase’s investigation into the embezzlement case related to Ha Van Tham, former chairman of the Board of Directors of OceanBank, and his accomplices, Su was accused of abusing his position and power while using the budget of Vinashin sent to OceanBank.

This action created a condition for Vinashin’s officials to receive and misappropriate more than 105 billion VND (4.5 million USD) worth of interest rates outside of the deposit.

The police are further investigating the case and retrieving lost properties.

Su was appointed to be the chairman of the members council at Vinashin in 2012. He resigned in August last year

The Vinashin embezzlement case is one of the major corruption and economic rule-violating cases that was ordered to be brought to trial as soon as possible by the Central Steering Committee for Anti-Corruption.

Last September, Ha Van Tham was sentenced to life in prison for embezzling property.-VNA