The Ministry of Public Security's Police Bureau for Economic Management Order Offences (C46) has said that the four leaders of PetroVietnam Construction Joint Stock Corporation (PVC) have been arrested for the investigation into the firm's loss of VND3.3 trillion (USD142 million).

Vu Duc Thuan, former general director of PVC; Truong Quoc Dung, former deputy director; Pham Tien Dat, former chief accountant and Nguyen Manh Tien who is now the PVC deputy director have been arrested.

Vu Duc Thuan, former general director of PVC

According to C46, the four will be prosecuted for violating economic management at PVC, leading to a USD142-million loss in the 2011-13 period.

Trinh Xuan Thanh, former Vice Chairman of Hau Giang Province People's Committee, was the PVC chairman, while Vu Duc Thuan was the firm's general director during 2011-13.

PetroVietnam dismissed both Thanh and Thuan from their PVC positions following the announcement of the huge losses.

From October 10, 2013, Thuan was appointed as deputy director of Thai Binh Province's Department of Transport. From March 1, 2015, he was assigned to be chief office manager of the Ministry of Transport.

However, since March this year, Thuan has been often absent from the Ministry of Transport and was said to have moved to HCM City.

Meanwhile, between September 2013 and April 2015, Thanh was assigned to key positions at the Ministry of Industry and Trade’s office by former Minister Vu Huy Hoang. In May 2015, he became the vice chairman of Hau Giang Province People’s Committee.

However, following public concerns over the scandal, he ended his term as Hau Giang Province People’s Committee vice chairman and did not stand for re-election.

The Prime Minister ordered the Government Inspectorate and the ministries to investigate the appointment of Trinh Xuan Thanh for key positions at the Ministry of Industry and Trade and as an official of Hau Giang Province despite PVC’s big losses.

On September 8, with 100 percent of votes, all members of the Secretariat of the Party Central Committee agreed to expel Trinh Xuan Thanh, a member of the Hau Giang Party Committee, from the Communist Party of Vietnam.

Thanh was requested to report to Hau Giang Province on September 13 to work with local authorities on issues related to his work, but he failed to attend the meeting.