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Further arrests linked to Vietnam yard fraud

Further arrests linked to Vietnam yard fraud
Sam Chambers December 11th, 2018

The multi-million dollar fraud scandal surrounding Vietnam’s top shipbuilder has snared another couple of executives.

A former Vinashin chief and a serving deputy chief of its successor company SBIC have been arrested accused of participating in the misappropriation of $4.5m.

Police took Truong Van Tuyen, retired general director of the state-run shipbuilding giant, and Pham Thanh Son, deputy general director of the Shipbuilding Industry Corporation (SBIC), yesterday for “abuse of power or position to appropriate property” while at Vinashin.

Vinashin was rebranded as SBIC five years ago. Hanoi has been charging many executives linked to the shipbuilding group in a giant fraud scandal.