They are Tran Van Liem, former director general of Vinashinlines, Tran Van Khuong, former chief accountant and Giang Kim Dat, former sales manager.

Dat’s father, Giang Van Hien, faces charges of money laundering.

According to the indictment, from July 2006 to March 2007, as director general of the company, Liem signed contracts to buy three foreign ships and he authorised Dat to negotiate with foreign partners.

Dat received a commission of between 2 and 3.75 per cent of the total contract value after each transaction. This amount of money would be transferred to a bank account in Hien’s name, according to investigators.

Liem, Dat and Khuong had conspired with ship owners to rig prices and earn profits. They pocketed an amount of some VNĐ249 billion (US$11.2 million) from May 2006 to June 2008.

The total amount of money that the trio misappropriated in the scam amounted to over VNĐ260 billion ($11.7 million), the indictment said.

The former general director of Vinashinlines misappropriated VNĐ3.1 billion ($140,000), while Dat and Khuong embezzled over VNĐ255 billion ($11.5 million) and US$110,000, respectively.

The police investigation found that after the money was transferred to his bank account, Hien had withdrawn some money for Dat to buy some 40 villas and luxury apartments as well as 13 cars in his, or his relatives’ name.

It is expected that the trial for the embezzlement scandal at Vinashinlines will be held by the end of this year or early next year.

VNS