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Vietnam starts high-profile trial over oil firm losses

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Staff Writer | January 9, 2018
PetroVietnam trial
Asia   The PetroVietnam trial in Hanoi

Vietnam began the trial of 22 executives charged over losses totaling hundreds of millions of dollars at the state oil firm, PetroVietnam.

The most serious offences is potentially carrying the death penalty.

The defendants included the communist state’s first politburo member to face trial in decades and a businessman who Germany says was kidnapped by Vietnamese agents from a Berlin park.

The trial is part of a widespread crackdown on fraud and mismanagement in the energy and banking sectors that intensified after the security establishment gained greater influence in the ruling party last year.

The PetroVietnam trial in Hanoi was taking place simultaneously with a separate trial in the commercial capital Ho Chi Minh City, where a fraud case involving Vietnam’s Construction Bank was being heard.

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