Companies & Finance

Trial begins for 22 PetroVietnam executives

Vietnam began the trial of 22 executives charged over losses amounting to hundreds of millions of dollars at state oil company PetroVietnam.
By Staff reporter 10 January 2018 0 29038

Vietnam began the trial of 22 executives charged over losses amounting to hundreds of millions of dollars at state oil company PetroVietnam on Monday, according to Reuters.

The trial is part of a widespread crackdown on fraud and mismanagement in the energy and banking sectors that intensified after the security establishment gained greater influence in the ruling party last year.

The most senior former executive on trial is Dinh La Thang, who was arrested last month over the losses at PetroVietnam.

Trinh Xuan Thanh, former head of PetroVietnam...