Vietnam Prosecutes Former C.Bank Exec for 'Lack of Responsibility'


SEPTEMBER 09, 2017

Hanoi. Vietnam police said on Friday (08/09) they had charged a former central bank deputy governor with "lack of responsibility", as the country extends its corruption crackdown in the banking and energy sectors.

Vietnam's scandal-hit energy firm PetroVietnam and the banking sector are at the heart of a sweeping high-level corruption crackdown in the communist state that has already led to the dismissal of a politburo member and a vice trade minister.

The Ministry of Public Security said in an online statement it had prosecuted Dang Thanh Binh, 63, a former State Bank of Vietnam (SBV) deputy governor, with "lack of responsibility that leads to serious consequences".

The accusation came as police investigate a SBV's monitoring team at Construction Bank, which saw its former chairman receive a 30-year jail sentence for illegally withdrawing around $400 million.

The loss-making Construction Bank was taken over by the central bank at no cost in 2015.

Police said they had also implemented measures to ban Binh from leaving his home. They did not elaborate.

Earlier this month, the Government Inspectorate found faults in SBV including poor supervision of credit organizations and inefficiency in preventing corruption, while last month a banking executive was arrested for alleged fraud.