Le Quang Thung - former General Director of the Vietnam Rubber Group (VRG) (Source: Internet)

Hanoi (VNA) - The Supreme People’s Procuracy has completed the indictment to prosecute Le Quang Thung, former General Director of the Vietnam Rubber Group (VRG), for the charge of deliberately acting against the State's regulations on economic management and causing serious consequences under Article 165 of the Criminal Code 1999.

Prosecution also began against the four other defendants related to the case, including Nguyen Thanh Chau and Nguyen Van Minh – former director and chief accountant of the Dong Nai Rubber Company, and Nguyen Hong Phu and Hoang Van Son – former director and chief accountant of the Phu Rieng Rubber Company.

Under the indictment, during the 2007-2008 period, the VRG did not have a plan to establish and contribute capital to the Dong Thap seafood export and processing JSC (Dong Thap seafood company). However, Thung organized the establishment of the company, which was not the main business sector of VRG.

After the establishment, taking advantage of his position as the General Director, Thung, who was also former Chairman of the Member Council  of VRG, directed leaders of many VRG’s subsidiaries, including Chau and Phu, to use their companies’  welfare funds to illegally contribute capital to the Dong Thap seafood company.

The two decided and directed Minh and Son to contribute 22.4 billion VND (958,451 USD), and 20.8 billion VND (nearly 890,000 USD) to the Dong Thap seafood company.

The Supreme People’s Procuracy concluded that Thung's conduct violated Article 13 of the 2005 Enterprise Law, and the actions made by the five defendants violated Article 8, Clause 4 - Regulation on financial management of State-owned firms and management of State capital invested in other enterprises; and Article 3 - Regulation on decentralization of investment decision for investment projects and capital contribution to other enterprises. -VNA