Vietnam Seeks Death Penalty For Embezzlement By Ex-Chairman Of State Energy Firm

www.oann.com | 9/14/2017 | Staff
DebraS (Posted by) Level 3
HANOI (Reuters) – Prosecutors in Vietnam on Thursday said they were seeking the death sentence in an embezzlement case against a former chairman of state energy firm PetroVietnam, as the communist country steps up one of its biggest corruption crackdowns.

Some high-ranking political officials have been punished as investigations widen into PetroVietnam and the banking sector, with dozens of banking and energy officials facing trial on charges such as embezzlement, mismanagement and abuse of power.

Statement - Supreme - People - Procuracy - Vietnam

In a statement, the Supreme People’s Procuracy of Vietnam said it had sought a death sentence for the former chairman, Nguyen Xuan Son, on charges that include wrongdoing with serious economic consequences and abuse of power to usurp assets.

It urged “an overall penalty of death”, listing punishments such as a jail term of 16 to 18 years for flouting state rules on economic management and life imprisonment for abuse of power, before seeking the “death sentence for embezzlement”.

PetroVietnam - Stake - Ocean - Group - Banking

In 2009, PetroVietnam acquired an 800-billion-dong ($35-million) stake in Ocean Group’s banking unit, Ocean Bank, which had to be completely written off in 2015, when the central bank took it over at no cost.

Son could not be reached for comment as he is on trial, and Reuters could not immediately reach his lawyer.

Prosecutors

Prosecutors...
(Excerpt) Read more at: www.oann.com
11 other people are viewing this story
Wake Up To Breaking News!
Sign In or Register to comment.