According to the investigation result, Thang signed a decision approving an ethanol factory project in the northern province of Phu Tho. A year later, PetroVietnam estasblished a steering committee led by Thang to launch bio-fuel projects.
PVB later invited bidding for a package TK05 named “Design, procurement, supply of equipment and construction of ethanol factory in the north”.
Though six contractors were unqualified, Thang and his subordinates signed many documents directing joint venture PVC/Alfta Laval/Delta-T to join the project.
During the implementation, the project was forced to suspend in March 2013 due to the joint-venture’s poor capability, resulting in a State budget loss of over VND540 billion (US$23.4 million ).
PVB’s former General Director Vu Thanh Ha and former deputy head of the project's investment office Nguyen Xuan Thuy were also found to commit violations in the case.
In 2018, Thang was given a total of 30 years in prison for his involvement in two other cases at PetroVietnam.