Former PVN Chairman Dinh La Thang arrested

The Investigation Police Department under the Ministry of Public Security on December 8 issued a decision to arrest and start legal proceedings against Dinh La Thang, former Chairman of the Member Council of Petro Viet Nam (PVN).

Thang, who is currently a member of the Party Central Committee and deputy head of the Party Central Committee's Economic Commission, was arrested to serve the investigation of two serious economic cases.

He is suspected of involvement in the case of deliberately violating the State's regulations on economic management, causing serious consequences (Article 165 of the Penal Code), and abusing position and authority to arrogate property (Article 280 of the Penal Code), causing losses of 800 billion VND in PVN's investment in OceanBank.

Thang is also thought to have a role in the case of deliberately violating the State's regulations on economic management, causing serious consequences and committing embezzlement (Article 278 of the Penal Code) in Petro Viet Nam Construction Corporation related to the Thai Binh 2 thermal power project.

The same day, the Politburo issued a decision on suspending Thang's Party-related activities as from December 8, 2017.

Also on December 8, the 14th National Assembly's Standing Committee adopted a resolution suspending Dinh La Thang's status of a NA deputy.

In April this year, the Party Central Committee's Inspection Commission decided to consider disciplinary action against seven former top executives of Petro Viet Nam, including Dinh La Thang.

Dinh La Thang was Secretary of the Party Committee and Chairman of the Board of Petro Viet Nam from 2009-2011.

The Commission found that the group's Party Committee Standing Board had been negligent in advising the Petro Viet Nam Party Committee on a 2009 resolution that approved illegal contract packages, and a 2011 resolution on investing in OceanBank, contrary to the Law on Credit Institutions, which resulted in a loss of 900 billion VND (39.59 million USD), including 800 billion USD (35.19 million USD) for OceanBank.

The Commission asked the Party Committee of the Central Business Bloc to take quick disciplinary action against the Petro Viet Nam Party Committee's Standing Board.

It found that Thang bore prime responsibility for resolutions and wrongdoings by the Party Committee Standing Board and the Member Council of Petro Viet Nam in 2009-2011.

He was found to have violated regulations of the group's Board of Directors by signing an agreement on contributing 20 percent and more of OceanBank's capital before getting approval for the move from the Board of Directors.

Thang was also held responsible for the Member Council's resolutions authorising bidding packages in violation of Government decrees and advising the Prime Minister to approve many bidding packages that failed to meet legal regulations.

He was also found responsible for violations of the Law on Bidding related to the engineering, procurement and construction contract for Dung Quat Biofuel Plant, as well as low investment efficiency in a number of projects, including the Dinh Vu Polyester manufacturing plant and several bio-energy projects.

He was found to violate the working regulations of the group's Board of Directors by signing an agreement on contributing to 20 percent and upwards of OceanBank's capital before it got the approval of the Board of Directors.

Thang was also responsible for the Member Council's issuance of resolutions and decisions relating to the authorization of big bidding packages violating the Government's related decrees and advising the Prime Minister to designate many bidding packages that failed to meet legal regulations.

Later at the third working day of the 12th Party Central Committee's fifth session on May 7, Thang received an official warning and was removed from the Politburo of the Party Central Committee for his wrongdoings as head of the National Oil and Gas Group (Petro Viet Nam).

Source: Online Newspaper of the Government of the Socialist Republic of Vietnam