Brian Jeffrey
The Investigation Agency under the Ministry of Public Security has initiated a criminal probe into mismanagement of state assets, bribery, and the facilitation of bribes at Viet Trung Minerals and Metallurgy Company (VTM).
On the evening of June 3, the Department responsible for tackling Economic Crimes, Corruption, and Smuggling within the Ministry announced a decision to begin legal proceedings regarding several major offenses: “Improper management and utilization of state assets resulting in losses and waste; offering bribes; accepting bribes; and facilitating bribery.” The focus of this investigation is on Viet Trung Minerals and Metallurgy Company (VTM) and its affiliates.
Simultaneously, the authorities approved decisions to indict and conduct searches at the locations of eight individuals involved.
The following individuals have been charged:
Bui Thanh Binh, the CEO of VTM, is facing two allegations: “Improper management and use of state assets leading to loss and waste” and “Accepting bribes.”
Nguyen Van Binh, Chairman of the Board at Viet Phat Import-Export Trading Investment JSC; Ngo Tien Cuong, Director of Tien Dai Phat Co., Ltd.; Nguyen Duy Nghiep, Director of An Binh Agricultural Export-Import Co., Ltd.; Nguyen Xuan Tot, Director of Trung Thanh Thai Nguyen Co., Ltd.; and Nguyen Van Duc, CEO of Viet Phat Import-Export Trading Investment JSC, are all charged with “Offering bribes.”
Le Xuan Dinh is accused of “Facilitating bribery.”
Nguyen Truong Giang, former Head of Quality Management and Measurement at VTM, faces charges of “Accepting bribes.”
The Ministry of Public Security has stated that this case is being closely monitored and directed by the Central Steering Committee for Anti-Corruption and Misconduct.
Investigations are ongoing to shed light on violations and establish the accountability of the implicated organizations, companies, and individuals. Additionally, authorities aim to trace and confiscate assets for possible restitution.
