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Vietnam arrests 2 central bank executives over 829 mln USD embezzlement

Xinhua, July 19, 2015 Adjust font size:

Police have arrested two senior managers of the State Bank of Vietnam's office in southern Long An province for their involvement in the misappropriation of nearly 18.41 trillion Vietnamese dong (829.23 million U.S. dollars) at a Vietnamese bank, local online newspaper Thanh Nien (Young People) News reported Sunday.

The arrest of Ha Tan Phuoc, 53, vice director of the Long An office, and Le Van Thanh, 52, chief inspector of the office, was confirmed by Nguyen Hoang Minh, vice director of the central bank' s branch in Ho Chi Minh City.

Both Phuoc and Thanh were in charge of supervising the activities of the Vietnam Construction Bank, between February 2012 and May 2014. However, they allegedly failed to stop the bank's board chairman Pham Cong Danh and CEO Phan Thanh Mai from ordering their subordinates to appropriate over 18.41 trillion Vietnamese dong for personal expenses, local news website VnExpress reported.

Police busted the case last July, arresting Danh and Mai, who were both dismissed right before the arrest, along with another 17 people with the bank. All the suspects, including the state bank's executives, are being investigated on charges of"deliberately violating state regulations on economic management,""dereliction of duty,"and"violating lending rules." Endi