The Ministry of Public Security has proposed charging Trinh Xuan Thanh, former chairman of PetroVietnam Construction Corporation (PVC), for misappropriation at  Petrovietnam Power Land JSC (PVP Land), according to Vietnamnet news website.

Trinh Xuan Thanh 

Seven others who face the same fate are former director of Petro Song Da Trading and Investment JSC Dinh Manh Thang, former PVP Land general director Nguyen Ngoc Sinh, former PVP Land chairman Dao Duy Phong, former chairman of May 1 Construction and Service JSC Le Hoa Binh, chief accountant of May 1 company and Minh Ngan company Nguyen Thi Kim Thoa, former deputy general director of Vietsan Investment JSC Thai Kieu Huong and businessman Huynh Quoc Duy.

PVP Land’s holding in Trans Pacific Company was at the helm of Thanh, Sinh, Hung and Phong.

Thanh was found to have signed a resolution selling PVP Land-held shares in Trans Pacific Company at a price equivalent to VND34 million per square meter of land to appropriate VND49 billion (US$2.16 million) in PVP Land.

Thanh received VND14 billion from the deal, Phong VND10 billion, Sinh VND2 billion, Hung VND20 billion and Thang VND5 billion, VnExpress news website reports.

At that time, Thanh had the right to approve the PVP Land’s share transfer plan at Nam Dan Plaza project.

SGT