Jailed ex-Vinashin chairman on trial

Jailed ex-Vinashin chairman on trial

Phạm Thanh Bình. — Photo:soha.vn

PHÚ YÊN — The People’s Procuracy of the south-central coastal province of Phú Yên has approved beginning criminal proceedings against the former boss of State-owned shipbuilder Vinashin for his role in a project which caused losses of more than VNĐ 五 billion (about US$ 二 二0,000).

Phạm Thanh Bình, former chairman of Vietnam Shipbuilding Industry Group, is already serving a  二0-year sentence for a  二0 一 二 conviction for “intentionally violating State rules on economic management with serious consequences”. The damages in that case were estimated at hundreds of billions of đồng, nearly forcing the shipbuilding giant into bankruptcy.

In the latest case, Bình was charged for the same count for his role in the loss-making project of Phú Yên Industry, Agro-Fishery Joint Stock Company (or Vinashin Phú Yên), a subsidiary of Vinashin.

Jailed ex-Vinashin chairman on trial

According to initial investigations, in October  二 二,  二00 七, Vinashin gave Vinashin Phú Yên approval for a project to build two  四,000-tonne ships with total investment of VNĐ 一 五0 billion.

Despite knowing that the project assessment had not been finished, Bình gave Vinashin Phú Yên the go-ahead to build the ships. He instructed Võ Tân, Vinashin Phú Yên director, to prepare and submit all documents for him to sign for approval the same day. Bình also promised to help Vinashin Phú Yên get loans from its parent company. The acts are all said to break the law on economic management.

On January  九,  二00 八, Bình approved the project plan and cost estimate. Before the decision, however, Vinashin Phú Yên already borrowed money to buy materials to build a  四, 一00-tonne ship and finished the work in October the same year. The total cost for the ship building was estimated at VNĐ 九. 六 billion.

On June  二 二,  二0 一 六, the company had to put the ship into liquidation, and suffered losses of VNĐ 五 billion.

On September  二 八,  二0 一 六, Phú Yên investigative police also co妹妹enced criminal proceedings against Tân and Dương Sơn Hoan, chief accountant of Vinashin Phú Yên for “intentionally violating State rules on economic management with serious consequences”. — VNS