LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2021
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Read in App
Business News » World News

Vietnam issues arrest warrants for ex-Sacombank executives in wider bank fraud case

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Updated: Tue, Aug 01, 2017
07:24 pm
Reuters

Vietnamese police said on Tuesday they had issued arrest warrants for two former executives of Sacombank for their involvement in a wider bank fraud case that dates back to 2014.

Tram Be, 58, a former vice chairman of Sacombank, one of Vietnam`s biggest banks by assets, and Phan Huy Khang, 44, a former Sacombank CEO, were among 16 people issued with arrest warrants on Monday, the police ministry said in a statement.

Be and Khang were among 25 people accused of "deliberately acting against the state`s regulations on economic management, causing serious consequences" the police said, without elaborating.

It was not clear whether they had actually been arrested and their whereabouts were not known.

The government news website said that the arrest warrants for Be and Khang were related to a fraud case at Construction Bank, which has drawn in executives at other banks and already led to the imprisonment of some executives including Construction Bank`s former chairman, who received a 30-year prison sentence for illegally withdrawing more than $390 million.

The fraud investigation is part of a banking reform in Vietnam, which has seen bank restructuring as well as stricter lending and debt classification rules and other measures to cut bad loans.

The executives` arrest warrants also come amid a widespread crackdown on corruption initiated by Communist Party chief Nguyen Phu Trong that has pushed many state executives and government officials into the spotlight.

The central bank took over loss-making Construction Bank in 2015 as part of the reforms and in an effort to stabilise the financial sector. It also approved a merger between Sacombank and Phuong Nam Bank in 2015.

Earlier this year, the central bank removed Tram Be and his son Tram Khai Hoa from Ho Chi Minh-based Sacombank`s board as part of the banking reform, officially ending their direct involvement in the lender`s management.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:

LATEST NEWS

Yes Bank Share price can multiply 2x to 3x over this period, says expert

CBSE Board exam 2021 cancellation: Will they, or won't they? From Arvind Kejriwal, Maha minister, Sonu Sood to CBSE — Who said what?

CBSE Class 10 Class 12 Board Exam Latest News: Will government CHANGE CBSE board exam 2021 date sheet - check all details here

Ramadan 2021: Moon sighting, Roza rituals, timings for Sehri and Iftaar—All you need to know

Gold Price Today 12-04-2021: Resistance for Gold MCX is Rs 46819 and 46932 while the support is at Rs 46394 and Rs 46550

Chaitra Navratri 2021: Know Puja timings, Kalash Sthapna, significance and other details

SSC Phase 8 Result 2021: Results for selection post phase 8 declared on ssc.nic.in - See steps to check, cut off and all other details here

Amazon Pay, Paytm, PhonePe, MobiKwik, PayU and Ola Pay – 3 GAME-CHANGERS for you

Stocks to buy with Anil Singhvi: Star Cement is Sandeep Jain's recommendation today

USD vs INR: Indian Rupee at 9-month low against US dollar - Expert decode the impact

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved