The Investigation Police Agency under the Ministry of Public Security on July 21 issued a decision to prosecute and arrest Nguyen Xuan Son, former Oceanbank General Director.
The Investigation Police Agency under the Ministry of Public Security on July 21 issued a decision to prosecute, arrest and conduct a search at the home of Nguyen Xuan Son, former General Director of the Ocean Commercial Joint Stock Bank (Oceanbank).
The prosecution decision and arrest order were ratified by the Supreme People’s Court earlier the same day, in line with the regulations of Articles 80 and 143 of the Penal Code.
During the expanded investigation into the case involving Ha Van Tham, former Chairman of the Oceanbank Boards of Directors, the Investigation Police Agency determined that Son worked as an accomplice of Tham when he held the position of Oceanbank General Director from December 2008 to November 2010.
Son was charged with “abusing position and power while on duty causing serious consequences,” and “deliberately violating State regulations on economic management causing serious consequences”.
ꦦ After working at Oceanbank, Son was appointed to Chairman of the Members’ Council of the Vietnam National Oil and Gas Group (PVN) in July 2014. On July 19, 2015, the Prime Minister signed a decision to remove Son from his post./.
The sharp decrease in world oil price over the past three months is expected to affect Vietnam’s oil export earnings as well as a wide range of socio-economic aspects.
The State Bank of Vietnam (SBV) will put loss-making Ocean Bank under special surveillance in accordance with the law due to its weak performance and numerous violations of the law.
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The VNA delegation, led by General Director Vu Viet Trang, actively participated in the event, engaging in both professional and diplomatic activities.
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The strategic product, managed and operated by the Vietnam News Agency Digital Media Centre (VNA Media), is an official channel for popularising the Party and State’s information and documents as well as delivering mainstream and trustworthy news to both domestic and international audiences through various kinds of multimedia formats.
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The total investment exceeded 319 billion VND (12.2 million USD), including over 261 billion VND from the state budget and 57.5 billion VND mobilised from businesses, organisations, and individuals.
Former Oceanbank Director General Nguyen Xuan Son
