Tuesday , November 29 2022

Corruption, economic crimes increase by 40% in Vietnam

The Ministry of Public Security detected almost 5,200 economic crimes and more than 520 corruption cases between October last year and September this year, up 41 percent year-on-year.

During the period, police uncovered various violations in the fields of finance, securities and banking.

They arrested former FLC group chairman Trinh Van Quyet in March, former chairman of Louis Holdings conglomerate Do Thanh Nhan in April, and Nguyen Van Nam, former director of ASA JSC, for manipulating the stock market.

Do Anh Dung, chairman of property developer Tan Hoang Minh, was arrested in April on suspicions of “fraudulent appropriation of assets.” Tan Hoang Minh garnered a lot of attention after bidding to buy a land lot in HCMC’s Thu Thiem Peninsula for a record VND2.45 billion ($108,000) per square meter late last year. However, the company decided to pull out of the transaction in January.

Investigators also bust violations in the process of bidding to buy biological products and medical equipment for diagnosing Covid-19 nationwide at Viet A Technologies JSC. Related to the case, police have probed 89 people, including the former Minister of Health Nguyen Thanh Long and former Hanoi chairman Chu Ngoc Anh.

Along with that was a case of bidding regulations causing losses for the state fund that occurred at Dong Nai General Hospital in the southern Dong Nai Province and AIC Group, in which Phan Huy Anh Vu, director of Dong Nai’s Department of Health, had violated bidding regulations when purchasing medical equipment for the hospital.

According to the Ministry of Public Security, violators have taken advantage of price and bid appraisal to manipulate the winning price.

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