Chair Trinh Van Tuan and PC1 Group's leadership 

On the evening of May 16, PC1 Group JSC (PC1) released an extraordinary disclosure regarding the Ministry of Public Security’s Investigation Police Agency indicting and detaining multiple corporate leaders. They are under investigation for "violating accounting regulations, causing serious consequences" and "embezzlement of assets."

Among the seven indicted executives, Trinh Van Tuan, Chair of the Board of Directors (BOD) of PC1, is being investigated for both accounting violations and asset embezzlement. 

The news sent shockwaves through the business community, as Tuan is a long-standing figure at PC1 and was widely regarded as a prominent entrepreneur in the electrical construction sector. 

Born in 1962, Tuan is an electrical engineer holding an MBA, with over 20 years of service at the enterprise, climbing from a staff position to the head of the group.

Besides PC1, he also held executive roles across various other enterprises.

Concurrently indicted and investigated under the same charges are Vu Anh Duong, Board Member and General Director of PC1; Nguyen Minh De, Board Member and Deputy General Director of PC1, who also serves as General Director of Dong Anh Steel Tower LLC; and Tran Thi Minh Viet, Chief Accountant.

Vo Hong Quang, Board Member and Deputy General Director, alongside Dang Quoc Truong, Deputy General Director, are currently under temporary detention. Meanwhile, Trinh Ngoc Anh, Deputy General Director of PC1 and Chairman of Tan Phat Minerals JSC, is being investigated for violating accounting regulations, causing serious consequences.

ACV president Vu The Phiet arrested for allegedly taking money from contractor

According to an extraordinary disclosure sent to the Hanoi Stock Exchange, Airports Corporation of Vietnam (ACV) stated that on March 4, the enterprise received a notice from the Ministry of Public Security's Investigation Police Agency regarding the arrest and detention of Vu The Phiet, Chair of the Board, and Nguyen Tien Viet, Board Member and Deputy General Director.

The disclosure revealed that the two state corporation leaders were detained to investigate acts of violating bidding regulations, causing exceptionally serious consequences, and allegedly receiving money to facilitate a contractor winning a bid.

Phiet was born in 1973 and holds an MBA. He began working in aviation in 1995 and has held many key management positions in the airport system.

In 2012-2017, Phiet served as Director of Noi Bai International Airport, one of the country’s largest airports. He was then appointed Deputy CEO and, in August 2018, became CEO of ACV.

In September 2024, Phiet was elected Chair of the Board of ACV.

In late February 2026, ACV announced that Le Van Khien, Board Member, would concurrently serve as the company’s legal representative from February 25, replacing Phiet.

Former Vinaconex Chair Nguyen Huu Toi arrested

Vinaconex on March 7 announced that Nguyen Huu Toi, Board Member, Deputy CEO, and former Chair of the Board, and Duong Van Mau, Board Member and Deputy CEO, were detained by the Ministry of Public Security.

Toi is under investigation for violating bidding regulations causing especially serious consequences, including giving money to project owners to secure contract wins. Also, Mau is under investigation for violating bidding regulations causing especially serious consequences.

Vinaconex said it had received notice from the Ministry of Public Security’s Investigation Police Agency about the detention of the two executives and made an extraordinary disclosure to the Vietnam Exchange and the HCMC Stock Exchange as required.

The company affirmed that the disclosed content is true and Vinaconex bears legal responsibility for the published information.

Duc Giang Chemicals Group Chair Dao Huu Huyen and son arrested

On March 17, the Ministry of Public Security said that through monitoring mineral resource exploitation and chemical production and trading, the Police Department for Corruption, Economic, and Smuggling Crimes (Ministry of Public Security’s Investigation Police Agency) discovered signs of serious legal violations at Duc Giang Chemicals Group JSC.

Dao Huu Huyenm Chairman of Duc Giang Chemicals, and his son Dao Huu Duy Anh were prosecuted over a series of serious violations in resource exploitation and accounting.

Specifically, Huyen was detained for investigation on three charges: violating accounting regulations causing serious consequences, violating resource exploitation regulations, and causing environmental pollution.

Meanwhile, Duy Anh was arrested for violating accounting regulations causing serious consequences.

Initial investigation results allege the company illegally exploited hundreds of thousands of tons of apatite ore worth hundreds of billions of VND. 

Hanh Nguyen