Nguyen Bac Son (L) and Truong Minh Tuan (Source: Ministry of Public Security)

The are prosecuted in relation to the case of the MobiFone’s purchase of 95 percent of shares of the Audio Visual Global JSC (AVG).

Son and Tuan are indicted on the charge of “violating regulations on the management and use ofpublic capital causing serious consequences” under Article 220, Clause 3 of the2015 Criminal Code.

Eleven other persons accusedof the same charge are Pham Dinh Trong, former head of the MIC’s Department ofEnterprise Management; Vo Van Manh and Hoang Duy Quang from AMAX investmentconsultancy and valuation company; three former MobiFone leaders - Le Nam Tra,Cao Duy Hai and Phan Thi Hoa Mai; and five Deputy General Directors of MobiFone– Pham Thi Phuong Anh, Ho Tuan, Nguyen Dang Nguyen, Nguyen Bao Long and NguyenManh Hung.

Meanwhile, Pham Nhat Vu, former AVG Chairman is prosecutedfor giving bribes in accordance to Article 364, Clause 4 of the 2015 CriminalCode.

At the same time, Son, Tuan, Hai and Tra are charged with receivingbribes under Article 354, Clause 4 of the 2015 Criminal Code.

Among the 14 defendants, eight have been detained.

According to the indictment, in 2015, the MIC-run MobiFonebought 95 percent of AVG with 8.9 trillion VND (382.7 million VND), many timeshigher than the real value of the struggling AVG at that time.

During the purchasing process, Son, Tuan, Tra and Hai madeuse of their positions to speed up the deal without the approval of the PrimeMinister, despite their knowledge of the poor financial and business situationof AVG. The deal caused a loss of over 6.47trillion VND (278.21 million USD) to the State.

Son also received 3 millionUSD from AVG Chairman Vu while Tra, Hai and Tuan got 2.5 million USD, 500,000USD and 200,000 USD, respectively, to accelerate the transaction.

The families of Tra, Haiand Tuan have handed over more than 68 billion VND in total to theInvestigation Police Authority under the Ministry of Public Security to make upfor the loss they caused.

The authority has seized Sonand Tuan’s houses and land and frozen their bank accounts./.VNA

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Related to MobiFone's AVG purchase case, the Supreme People's Procuracy of Vietnam has approved the implementation of legal proceedings agains five officials of the State-owned telecommunication giant MobiFone.