Society

Former executives of petrochemical firm to stand trial

Four former executives of Binh Son Refining and Petrochemical JSC (BSR) will be brought to trial on January 21 for the charge of “abusing position and power to appropriate assets”, according to the Hanoi People’s Court.
Former executives of petrochemical firm to stand trial ảnh 1Former Chairman of BSR’s Council of Members Nguyen Hoai Giang (L), former Chief Accountant of BSR Pham Xuan Quang (R), and two others will stand trial on January 21 (Photo: VNA)

Hanoi (VNA) –Four former executives of Binh Son Refining and Petrochemical JSC (BSR) will bebrought to trial on January 21 for the charge of “abusing position and power toappropriate assets”, according to the Hanoi People’s Court.

The defendants consist of Vu Manh Tung (born in1974, former Deputy Director General of BSR), Nguyen Hoai Giang (born in 1968,former Chairman of BSR’s Council of Members), Pham Xuan Quang (born in 1980,former Chief Accountant of BSR), and Dinh Van Ngoc (born in 1973, former GeneralDirector of BSR).

They were prosecuted by the Supreme People’sProcuracy for “abusing position and power to appropriate assets” under Article355 of the 2015 Penal Code.

According to the indictment, from 2009 to 2014,BSR – a subsidiary of the Vietnam Oil and Gas Group (PetroVietnam) based in thecentral province of Quang Ngai – made fixed-term and demand deposits at theQuang Ngai branch of the Ocean Commercial Joint Stock Bank (OceanBank).

The move was made under PetroVietnam’s directionregarding the prioritisation of using OceanBank services, to which PetroVietnamcontributed 20 percent of the charter capital.

As the then leaders of BSR, in 2013 and 2014,the four defendants decided to deposit the company’s money at OceanBank andreceived extra interest that was not stated in contracts from then General Directorof OceanBank Nguyen Minh Thu.

Vu Manh Tung received and appropriated 2.9billion VND and 40,000 USD, while Nguyen Hoai Giang pocketed 2.9 billion VND;Pham Xuan Quang, 1.8 billion VND and 20,000 USD; and Dinh Van Ngoc, 1.5 billionUSD, the indictment reads.

The Supreme People’s Procuracy said there is a sufficientbasis proving that they abused their positions and power to appropriate assets.–VNA
VNA
#Binh Son Refining and Petrochemical JSC #BSR #abusing position and power to appropriate assets #Hanoi People’s Court #PetroVietnam #OceanBank #Supreme People’s Procuracy #updated Vietnam news #Vietnamplus #Vietnam News Agency
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