A senior banker was arrested on January 28 for alleged economic frauds.

Nguyen Minh Thu, 42, former CEO and Chairwoman of the Ocean Commercial Joint Stock Bank was arrested following orders of the Hanoi Supreme People's Procuracy, police told local media.

Thu was alleged to be involved in a big fraud case which has so far resulted in the police arrest of Ha Van Tham, the former Chairman and Nguyen Van Hoan, the former Deputy CEO and former member of the credit council at the Ocean Bank, who have also been accused of violating the rules governing the credit institution.-VNA