Ex-leader of Vietsovpetro to stand trial this month

Tu Thanh Nghia, former General Director of the Vietnam-Russia oil and gas joint venture Vietsovpetro, will face trial on March 21 on charges of “abusing position and power to appropriate assets.”
  • Appeal trial on trillion-VND online gambling case opens in Phu Tho
  • Appeal trial on trillion-VND online gambling case slated for March 5
Tu Thanh Nghia (left), former General Director of Vietsovpetro, and Vo Quang Huy, former chief accountant of the firm.
Tu Thanh Nghia (left), former General Director of Vietsovpetro, and Vo Quang Huy, former chief accountant of the firm.

Aside from Nghia, born in 1962, former chief accountant of the firm Vo Quang Huy, born in 1961, will also stand trial for the same charges. 

According to the indictment, Vietsovpetro began using payment account services of and had some fixed-term deposit contracts with the Ocean Commercial Joint Stock Bank (OceanBank) at the end of 2008.

By 2009, it had many fixed-term deposit contracts and maintained a large payment account balance at the OceanBank branch in Vung Tau city. This was in line with the direction of the Vietnam National Oil and Gas Group (PetroVietnam) – which represents the Vietnamese Government in contributing 51 percent (or 765 million USD) of Vietsovpetro’s charter capital – regarding prioritising financial services of OceanBank, to which PetroVietnam contributed 20 percent of the charter capital. 

Between late 2008 and 2014, Vietsovpetro signed 54 deposit contracts in VND worth 13.2 trillion VND, and 70 others in USD worth a total 1.26 billion USD.

It opened four payment accounts, comprising three in Vietnamese and one in USD, at OceanBank with monthly balance maintained from 200 billion VND to 900 billion VND, and from 10 million USD to 400 million USD. The bank gave the firm more than 49.7 billion VND and 595,283 USD as interest each month.

Meanwhile, then Chairman of the Board of Directors of OceanBank Ha Van Tham ordered that extra interest which was not stated in contracts be paid to all clients who had deposited money at the bank.

From 2013 to 2014, then Director General of OceanBank Nguyen Minh Thu received money sent from the OceanBank headquarters through other people’s accounts at the Vung Tau and Ho Chi Minh City branches to pay the extra interest to Tu Thanh Nghia and Vo Quang Huy.

The Supreme People’s Procuracy said as the then leaders of Vietsovpetro, Nghia and Huy decided to deposit the business’ money at OceanBank and received the money from Thu. While Huy received and appropriated 5.2 billion VND and 130,000 USD, Nghia took 1.5 billion VND and 30,000 USD.

VNA

Other News

Communication drive promoted for 500-day campaign to locate, identify fallen soldiers' remains

Communication drive promoted for 500-day campaign to locate, identify fallen soldiers' remains

Under the plan, all central and local media outlets are required to launch columns on the campaign, maintain regular coverage, and produce at least five to seven in-depth reports each month in key search areas. Media agencies will also be encouraged to gather and verify valuable information and develop high-quality products in both Vietnamese and foreign languages, including feature articles, documentaries, reports and short videos.

First Vietnamese pagoda in Tokyo inaugurated

First Vietnamese pagoda in Tokyo inaugurated

Ambassador Pham Quang Hieu expressed confidence that the establishment will serve as a strong spiritual anchor for Vietnamese people living in Japan while contributing to friendship and cultural exchanges between the two countries.

National drive kicks off to protect, support children online

National drive kicks off to protect, support children online

Cyberspace now runs through children’s learning, entertainment, and daily lives, but warned it is laced with dangerous content, online insults, threats, and seemingly harmless clicks that can trigger fraud, data breaches, and risks children who are not yet equipped to handle.

Vietnam, RoK scholars discuss diplomatic perspectives amid modern East Asia

Vietnam, RoK scholars discuss diplomatic perspectives amid modern East Asia

A scholar has stressed the need for Vietnam to make use of cooperation opportunities arising from the RoK’s foreign policy, particularly in semiconductor technology, artificial intelligence (AI), supply chains, digital transformation, and green energy, as well as chances in multilateral diplomacy.

'Barefoot inventor' and global ambitions

'Barefoot inventor' and global ambitions

Pham Van Hat is best known as the creator of the made-in-Vietnam “Seed Sowing Robot,” now exported to 15 countries, alongside dozens of practical inventions that have eased labour for thousands of farmers.

Safeguarding fairness for creators, future of Vietnam's culture

Safeguarding fairness for creators, future of Vietnam's culture

Films, music, television programmes, e-books, video games, journalistic works, images and creative data can now be copied, edited and redistributed within minutes. While copyright violations were once linked mainly to pirated discs or counterfeit books, infringements have shifted online with faster speed, wider scale and greater anonymity.

Flower tribute ceremony honours President Ho Chi Minh in Russia

Flower tribute ceremony honours President Ho Chi Minh in Russia

Consul General Nguyen Viet Kien stressed President Ho Chi Minh’s reputation and career transcended Vietnam’s borders to inspire liberation movements worldwide, and that his ideas on the right to self-determination, peace, and friendship among nations remain deeply relevant today.

Education ministry targets five digital technology incubators at universities

Education ministry targets five digital technology incubators at universities

A key target under the new plan is the establishment of five digital technology incubators, or Deeptech Hubs, at universities and research institutes with strong potential. The education ministry also plans to launch a training programme for 1,000 outstanding technology entrepreneurs and develop criteria for selecting and supporting startup ecosystems within educational institutions.

Vietnam steps up implementation of ethnic affairs strategy through 2030

Vietnam steps up implementation of ethnic affairs strategy through 2030

To accelerate the implementation of the the Ethnic Affairs Strategy by 2030, with a vision toward 2045, the Prime Minister requested ministries, agencies and local authorities to continue thoroughly carrying out the Party and State’s policies on ethnic affairs, enhancing the effectiveness of State management and strengthening oversight of policy implementation.

Security preparations reviewed for APEC 2027 in Phu Quoc

Security preparations reviewed for APEC 2027 in Phu Quoc

The team examined the APEC 2027 Convention Centre, where main conference activities are scheduled; Sun Serenia Hospital, designated to provide healthcare and emergency medical services for delegates; provincial road DT.975, which connects Phu Quoc International Airport to the convention centre; and the area surrounding Phu Quoc International Airport.