Former chairman of Vinalines, who is being sought for investigations into financial mismanagement
Vietnamese police are searching for a former senior executive of the Vietnam National Shipping Lines, or Vinalines,one of the people being probed foralleged financial mismanagementof the state-owned shipping company.
Police said they could not find Duong Chi Dung, former chairman of the shipper, when they sought to arrest him on Friday.He was neither at his residence nor his office, they said. They officially announced a manhunt for him on Saturday.
The International Criminal Police Organization, often known as Interpol,said it has not been informed of the search.
Dung, 55, is currently director of the Vietnam Maritime Administration. He took the position in February, after seven years of working at Vinalines.
He has been suspended from the current position since last week.
Two other Vinalines executives – Mai Van Phuc, former general director, and Tran Huu Chieu, former deputy general director – were detained Friday, also for economic management violations.
The government launched the investigation into Vinalines after state inspectors found many wrongdoings at the company during the2007- 2010 period, including buying old ships and using them inefficiently.
Vinalines executives have also been accused of making poor investments, allowing the shipping company to establish real estate and securities firms. Five subsidiaries are now facing the risk of losing a combined US$1.1 billion.
State inspectors said Dung and Phuc would be held accountable for their decision to invest in several seaport projects that either turned out ineffective or were delayed for a long time.
If found guilty, the executives will face punishment of up to 20 years in prison.
Source: thanhniennews
