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PetroVietnam chief accountant arrested

PetroVietnam chief accountant arrested for economic mismanagement

The Ministry of Public Security’s Investigation Agency on September 26 detained and launched legal proceedings against chief accountant of the Vietnam National Oil and Gas Group Le Dinh Mau.
PetroVietnam chief accountant arrested for economic mismanagement ảnh 1Le Dinh Mau (Source: VNA)
Hanoi (VNA) – The Ministry of Public Security’s Investigation Agency onSeptember 26 detained and launched legal proceedings against chief accountantof the Vietnam National Oil and Gas Group (PetroVietnam) Le Dinh Mau forintentionally violating State regulations on economic management causing severeconsequences. 

Mau is also head of the PetroVietnam Accounting and Audit Department.

The agency also took legal proceedings against former head of thePetroVietnam’s management board for electricity and oil and gas project ThaiBinh 2 Vu Hong Chuong; chief accountant of the management board for electricityand oil and gas project Thai Binh 2 Tran Van Nguyen; and former Vice Chairmanof the Board of Directors of the PetroVietnam Construction Corporation (PVC) NguyenNgoc.

They werefound guilty of violating financial regulations in the Thai Binh 2 thermalpower plant project.

Theinvestigation found that though a bidding contract on engineering, procurementand construction (EPC) for the project was yet to be signed, PetroVietnamtransferred 8.2 million USD and more than 1.317 trillion VND (57.26 millionUSD) to the management board for the power project, which later advanced 6.6million USD and 1.312 trillion VND to PVC, causing a loss of more than 51.7billion VND and over 66,000 USD in interest until the EPC contract took effecton October 11, 2011.-VNA
VNA
#Ministry of Public Security#Vietnam National Oil and Gas Group#engineering#procurement#construction#EPC contract#loss#Thai Binh 2 thermal power plant#economic management#Vietnamplus#Vietnam News Agency
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