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Friday, October 22, 2021

14 prosecuted for violations at TISCO’s expansion project

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HCMC – The Investigative Police Agency, under the Ministry of Public Security, has filed charges against 14 people allegedly involved in violations at the second phase of a project to expand production at Thai Nguyen Iron and Steel Joint Stock Corporation (TISCO).

Of the accused, nine were charged with violating regulations on the management and use of State assets, causing losses and wastefulness, based on Article 219 of the 2015 Penal Code, including Dang Van Tap, former deputy director of TISCO’s project management board; Dong Quang Duong, former deputy director and project secretary; and Nguyen Trong Khoi, former deputy general director of Vietnam Steel Corporation (VNS).

In addition, Trinh Khoi Nguyen, former head of VNS’s investment and development division; Do Xuan Hoa, former chief accountant of TISCO; Le Thi Tuyet Lan and Uong Sy Binh, former deputy heads of the accounting and finance division at TISCO; Nguyen Van Trang, former member of VNS’s control board; and Dang Thuc Khang, former member of the board of directors and head of the control board at VNS, faced the same charge.

Meanwhile, five others were accused of lacking of responsibility, causing serious consequences, based on Article 360 of the 2015 Penal Code, including Le Phu Hung and Nguyen Minh Xuan, ex-members of VNS’s board of directors; and Nguyen Chi Dung, Hoang Ngoc Diep and Doan Thu Trang, former members of TISCO’s board of directors.

Only Khang was detained, while the remaining were put under house arrest.

The prosecution against these 14 people was part of a probe into violations of construction investment regulations causing serious consequences and infringements of regulations on State asset management and use that caused losses and wastefulness in the second phase of TISCO’s production expansion project.

Up to date, nearly 20 people have been prosecuted in the case, including former VNS chairman Mai Van Tinh; former VNS general director Dau Van Hung; former TISCO general director Tran Trong Mung; former TISCO chairman and general director Tran Van Kham; and former TISCO deputy general director Ngo Sy Han.

The second phase of TISCO’s production expansion project was approved in 2005 with an investment of more than VND3.8 trillion.

In February last year, the Government Inspectorate concluded that TISCO had illegally adjusted up the investment in the project to VND8.1 trillion.

At the inspection time, TISCO had made payments of more than VND4.4 trillion. Of the total, TISCO paid the Chinese contractor, Metallurgical Construction Corporation of China (MCC) more than 92% of the contract value while it did not complete items.

In 2013, MCC and other contractors suspended the construction, making equipment deteriorating, significantly affecting the progress and quality of the project and causing losses in investment.

The Government Inspectorate has reported these conclusions to the Party Central Committee’s Inspection Commission so that sanctions would be imposed on officials under the management of the Politburo and the Party Central Committee’s Secretariat, and transferred documents on the case to the Investigative Police Agency, under the Ministry of Public Security, for further investigation.

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