Nguyen Quoc Khanh, former President and CEO of the PetroVietnam (PVN) (Source: VNA)

Hanoi (VNA) – Minister of Industry and Trade Tran Tuan Anh has signed a decision to suspend Nguyen Quoc Khanh, former President and CEO of the PetroVietnam (PVN) from his work as a member of the Office of the National Steering Committee on Power Development.

Decision 4601/QD-BCT dated December 8, 2017 on Nguyen Quoc Khanh’s suspension was made after he was arrested and detained by the police to serve the investigation into his links to serious economic violations in the PVN.

The suspension will last until an official conclusion of authorized agencies is issued.

Earlier on December 8, the Investigation Police Department under the Ministry of Public Security released a decision to prosecute Nguyen Quoc Khanh on the charge of deliberately violating State regulations on economic management causing serious consequence.

The same day, the police also issued arrest and search warrants for Khanh, as part of investigation into two serious economic cases related to the PVN.

One of which is the deliberate violation of State regulations on economic management causing serious consequence and abuse of position and power to appropriate property, resulting in losses of 800 billion VND in PVN’s investment in Oceanbank.

The other case is the deliberate violation of State regulations on economic management causing serious consequence at the PetroVietnam Construction Corporation related to the Thai Binh 2 thermal power project.

Also on December 8, the National Assembly Standing Committee adopted a resolution on the prosecution, arrest and suspension of NA deputy status of Khanh.

Dinh La Thang, former Chairman of the PVN Member Council was also arrested in service of investigations into violations found in PVN.-VNA