Former PVN General Director to be prosecuted

December 21, 2017 | 10:27

(0) user say

The police on Tuesday decided to prosecute former General Director of the Viet Nam National Oil and Gas Group (PetroVietnam) Phung Dinh Thuc for causing serious economic loss.

General Director of the Viet Nam National Oil and Gas Group (PetroVietnam) Phung Dinh Thuc makes a speech at an event when he was still in office. - Photo pvoil.com.vn

The Investigation Police Department under the Ministry of Public Security issued a decision to start legal proceedings against Thuc for alleged deliberately violating the State’s regulations on economic management, causing serious consequences, according to Article 165 of the Penal Code.

He was suspected of committing violations while directing the implementation of the Thai Binh 2 thermal power project.

The prosecution of Thuc was part of the police’s investigation into the case of deliberately violating the State’s regulations on economic management, causing serious consequences and committing embezzlement in PetroVietnam and PetrolVietnam Construction Corporation.

Thuc, born in 1954, was banned from leaving his residence area at Dich Vong new urban area, Dich Vong Ward, Cau Giay District.

He served as PetroVietnam’s general director between 2008 and 2010, and as its chairman from 2011 to 2014.

In a related move, the Investigation Police Department also decided to prosecute a former board member of PetroVietnam, Phan Dinh Duc, over allegations of deliberately violating the State’s regulations on economic management, causing serious consequences.

He was suspected of mismanagement in the case involving PetroVietnam’s investment in OceanBank, which caused a loss of over VND800 billion (US$35.4 million).

RELATED CONTENTS:
	Dinh La Thang arrested and facing legal proceedings
	PV Oil to roll out bio-fuel E5 ahead of deadline
	PVcomBank’s third attempt to divest top industrial insurer
	PV Oil issues hard criteria for strategic investors