Ho Chi Minh City police arrested two high-ranking officials from the Bank for Agriculture and Rural Development of Vietnam (Agribank) on April 2 due to alleged wrongdoings.
The HCMC Department for Criminal Investigation of Order, Economic Management and Position said that Nguyen Tam, director of the Tan Binh District branch of Agribank, and Do Giao Toan, deputy head of the branch's Credit Department, would be prosecuted for violating lending regulations.
On the same day, police also searched the private homes of the two arrestees and seized documents related to the case for further investigation.
The two bank officials are accused of inappropriately signing off on contracts, causing losses of up to VND120 billion (US$6.3 million). Further investigations will be carried out, said police.