Police arrest three company directors for embezzlement

Police have arrested Le Van Bang, former director of Northern Foodstuff Company, on charges of violating State regulations on economic management, leading to serious consequences.

Le Van Bang, 58, from Hanoi was also once the deputy director-general of the Vietnam National Tobacco Corporation (Vinataba).

According to the police, in October 2007, Le Van Bang conspired with Nguyen Khac Tung, 47, director of Tung Duong Private Company and Le Van Duc, 47, branch director of An Phuc Company and Bang’s younger brother, to draw up several fake purchase contracts between Northern Foodstuff and Tung Duong Company, whereby transferring money from Northern Foodstuff Company to Tung Duong and An Phuc Companies.

The three are now accused of embezzling tens of billions of VND from the State, and are currently being detained for questioning by the police.

By H.Nam – Translated by T.Huong

Other news