Vietnam seeks death penalty for embezzlement by ex-chairman of state energy firm

HANOI: Prosecutors in Vietnam yesterday 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.

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”.

In 2009, PetroVietnam acquired an 800- billion- dong ( US$ 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 also sought life imprisonment for Ocean Group’s founder, tycoon Ha Van Tham on charges ranging from embezzlement to abuse of power, the statement said, adding that dozens of other Ocean Bank staff could also face years in jail. — Reuters