Vietnam Shipping Firm Corruption Trial Opens

The Hanoi People's Court in Vietnam's has opened a three-day hearing of the corruption charge against former chairman of Vietnam's National Shipping Lines (Vinalines) Duong Chi Dung and 9 others, reports Xinhua.

According to the indictment, Duong Chi Dung and the nine other employees have been charged with deliberately violating state regulations on economic management and causing serious consequences through the embezzlement of state property.

Specifically, Dung and the other defendants violated regulations by purchasing a used floating dock from abroad, which did not meet licensing or registration requirements, at higher price than real value in 2007-2008, causing a loss of almost 367-billion Vietnamese dong (US$17.4-million).

Citing Vietnam’s news agency VNA, Xinhua report that Dung fled from Vietnam in May 2012 and was arrested in Cambodia in September 2012.

Source: Xinhua