PC1 chairman Trinh Van Tuan and senior executives prosecuted

On the evening of May 16, PC1 Group Joint Stock Company announced extraordinary information regarding the Ministry of Public Security’s decision to prosecute and temporarily detain several company executives over allegations of “violating accounting regulations causing serious consequences” and “embezzlement of assets.”

Among the seven executives prosecuted was Trinh Van Tuan, chairman of PC1’s Board of Directors, who is being investigated for alleged accounting violations causing serious consequences and embezzlement.

The information shocked investors because Tuan had long been associated with PC1 and was considered one of the most prominent businessmen in Vietnam’s electrical construction sector.

Born in 1962, Tuan is an electrical engineer with a Master’s degree in Business Administration and has spent more than 20 years working at the company, rising from an employee position to become chairman of the group.

In 2007, he was elected as a board member and general director of Power Construction Joint Stock Company No. 1 (PC1).

By 2010, he officially became chairman of the Board of Directors and held the position until now.

In addition to PC1, he also participated in managing several other businesses.

Also prosecuted in connection with the case were Vu Anh Duong, board member and general director of PC1; Nguyen Minh De, board member and deputy general director, who simultaneously serves as general director of Dong Anh Steel Pole Company Limited; and Tran Thi Minh Viet, chief accountant.

Vo Hong Quang, board member and deputy general director, and Dang Quoc Truong, deputy general director, were also placed under temporary detention.

Trinh Ngoc Anh, deputy general director of PC1 and chairman of Tan Phat Minerals Joint Stock Company, is being investigated for alleged violations of accounting regulations causing serious consequences.

ACV chairman Vu The Phiet arrested over contractor bribery allegations

According to an extraordinary disclosure submitted to the Hanoi Stock Exchange, Airports Corporation of Vietnam - JSC (ACV) said it had received notice from the Ministry of Public Security on March 4 regarding the temporary detention of Vu The Phiet, chairman of the Board of Directors, and Nguyen Tien Viet, board member and deputy general director.

The disclosure stated that both executives were detained for investigation into alleged violations of bidding regulations causing especially serious consequences and receiving money to facilitate contractors winning bids.

Vu The Phiet was born in 1973 and holds a Master’s degree in Business Administration.

He began working in the aviation sector in 1995 and held multiple important management positions within Vietnam’s airport system.

Between 2012 and 2017, he served as director of Noi Bai International Airport, one of Vietnam’s largest airports.

He was later appointed deputy general director before becoming chief executive officer of Airports Corporation of Vietnam in August 2018.

In September 2024, Phiet was elected secretary of the Party Committee and chairman of ACV’s Board of Directors.

Notably, in late February 2026, ACV announced the appointment of Le Van Khien, a board member, as the company’s legal representative starting February 25, replacing Vu The Phiet.

Former Vinaconex chairman Nguyen Huu Toi detained

According to extraordinary disclosures released by Vietnam Construction and Import-Export Joint Stock Corporation (Vinaconex) on March 7, Nguyen Huu Toi, board member, deputy general director and former chairman, together with Duong Van Mau, board member and deputy general director, were temporarily detained by the Ministry of Public Security.

The disclosure stated that Nguyen Huu Toi is being investigated for alleged violations of bidding regulations causing especially serious consequences, including allegations of giving money to project owners in exchange for favorable conditions in winning bids.

Meanwhile, Duong Van Mau is also under investigation for alleged violations of bidding regulations causing especially serious consequences.

Vinaconex said it had received official notice from the Ministry of Public Security regarding the detentions and had disclosed the information to the Vietnam Stock Exchange and the Ho Chi Minh City Stock Exchange in accordance with regulations.

Company representatives affirmed that the disclosed information was accurate and that Vinaconex would bear legal responsibility for the announcement.

Duc Giang Chemical Group chairman Dao Huu Huyen and son arrested

On March 17, the Ministry of Public Security announced that through investigations into the mining and chemical production sectors, the Department for Investigation of Corruption, Economic Crimes and Smuggling had uncovered signs of serious legal violations at Duc Giang Chemical Group Joint Stock Company.

Investigators said Dao Huu Huyen, chairman of Duc Giang Chemical Group, and his son Dao Huu Duy Anh had been prosecuted over a series of serious violations related to resource exploitation and accounting practices.

Specifically, Huyen was temporarily detained for investigation into three charges: violating accounting regulations causing serious consequences, violating mining regulations and causing environmental pollution.

Meanwhile, Duy Anh was arrested for alleged accounting violations causing serious consequences.

According to preliminary investigation results, the company is accused of illegally exploiting hundreds of thousands of tons of apatite ore worth hundreds of billions of Vietnamese dong.

The company was also accused of concealing revenue, keeping transactions off accounting books and causing tax losses worth tens of billions of dong for the state budget.

Notably, the violations extended beyond resource exploitation and also involved environmental issues.

Authorities determined that the company had illegally dumped millions of tons of waste at Tang Loong Industrial Park in Lao Cai Province.

Several executives and key personnel at subsidiary companies were also prosecuted, bringing the total number of defendants in the case to 14.

Hanh Nguyen