Foreign firm accountant gets death sentence in $9.6 mln corruption case
A Dong Thap province court on Friday handed a death sentence to Nguyen Trung Thanh, chief accountant of Filipino-invested Pilmico Vietnam, on corruption charges.
Thanh was found to have corrupted assets, gambled, and forged seals and company documents. The court forced the defendant, 42, to compensate Pilmico Vietnam VND228 billion ($9.6 million), of which over VND13 billion has been paid.
The court also gave Nguyen Tan Tai, 39, and Tran Van Quang, 37, two other defendants, jail terms of three years and five years, respectively, on charges of gambling.
The three defendants in court, Dong Thap province, southern Vietnam on September 30, 2022. Photo courtesy of Vietnam News Agency.
According to the files, Thanh, as the firm’s chief accountant in 2017-2020, forged seals and documents to appropriate money from Pilmico Vietnam, in order to gamble with Tai and Quang.
Thanh said he gambled VND143 billion ($5.99 million), paid a debt of VND80 billion to Quang, and used the rest for personal purposes.
In April 2020, the parent company asked Pilmico Vietnam to send it the subsidiary's profits, but Thanh could not do so. Thanh then admitted his violations and the company took legal action against him.
The court also asked Thanh to hand over illicit gambling profits of VND3.4 billion ($142,500) to the state budget. Tai and Quang were requested to hand over gambling profits of over VND82 billion.
Pilmico Vietnam Company Limited, under the Philippines’ Pilmico International Pte. LTD, operates a factory in the Mekong Delta province of Dong Thap with an annual output of 300,000 tons of fish feed.
- Related News
- Read More
Hanoi eyes massive replanning of Red River corridor, relocation of riverside communities
Hanoi plans to gradually relocate and reorganize all residential areas outside the Red River dike system as part of an ambitious urban redevelopment strategy aimed at transforming both banks of the river into a new economic and cultural corridor for the capital.
Economy - Thu, May 7, 2026 | 5:04 pm GMT+7
Thaco, VinFast, TC Group urge Vietnam gov't to keep auto sector under conditional business rules
Vietnam’s three major domestic automotive corporations - Thaco, VinFast and TC Group - have urged the government to maintain automobile manufacturing, assembly and import activities within the list of “conditional business sectors,” warning that deregulation could weaken the country’s long-term industrial strategy and expose local producers to unfair competition.
Economy - Thu, May 7, 2026 | 4:09 pm GMT+7
Prudential Vietnam remits $194 mln in retained earnings to parent company
Prudential Vietnam transferred over VND5.1 trillion ($194 million) in retained earnings to its parent company, Prudential Corporation Holdings, earlier this year, according to disclosures in its 2025 financial statements.
Finance - Thu, May 7, 2026 | 3:33 pm GMT+7
$120 mln export ambition: What drives Vietnam’s home appliance giant Sunhouse to strengthen position in global supply chain?
The prominent presence of Sunhouse, Vietnam’s leading home appliance brand, at the 139th Canton Fair reinforces its strategic direction to become a key manufacturing partner in the global supply chain.
Companies - Thu, May 7, 2026 | 2:10 pm GMT+7
Vietnam makes 'huge difference' in terms of accessibility criteria: FTSE Russell exec
Vietnam has made “significant progress in meeting the requirements” over the past two years for an upgrade from frontier market to secondary emerging market status, said Wanming Du, FTSE Russell's Asia-Pacific director of index policy.
Finance - Thu, May 7, 2026 | 11:54 am GMT+7
Taiwan's electronics major Lite-On to pump additional $149 mln into Vietnam arms
Taiwanese electronics maker Lite-On Technology plans to inject an additional $149 million into its wholly owned subsidiaries in Vietnam, as part of efforts to expand production capacity and strengthen its manufacturing footprint.
Industries - Thu, May 7, 2026 | 8:00 am GMT+7
FedEx forms strategic tie-up with Viettel Post in push for Vietnam expansion
FedEx Express and Viettel Post, an arm of Vietnam's military-run telecom giant Viettel, have announced a strategic partnership with a view to strengthening nationwide delivery capabilities and enhance cross-border logistics connectivity.
Companies - Wed, May 6, 2026 | 5:16 pm GMT+7
Van Phu Invest, T&T Group exit Hanoi’s $27 bln Red River megaproject consortium
Two more developers, Van Phu Invest and T&T Group, have withdrawn from the investor consortium for Hanoi’s Red River Scenic Boulevard project, leaving a three-member group to pursue the plan.
Real Estate - Wed, May 6, 2026 | 3:10 pm GMT+7
Gemadept eyes integrated maritime group expansion
Gemadept is shifting strategy toward becoming an integrated maritime logistics group, as the company embarks on a new expansion cycle focused on shipping and inland waterway transport.
Companies - Wed, May 6, 2026 | 2:39 pm GMT+7
Five notable trends in Vietnam’s industrial real estate
FDI inflows remain central to driving demand for industrial real estate. However, the trend is shifting - from a focus on processing and assembly toward high-tech manufacturing, research and development, writes Phung Xuan Minh, chairman of Saigon Ratings.
Industrial real estate - Wed, May 6, 2026 | 12:45 pm GMT+7
Middle East revenue share limited, impact manageable: top seafood exporter Vinh Hoan
Vinh Hoan Corporation's revenue exposure to the Middle East remains limited, helping shield the company from geopolitical tensions in the region, said its chairwoman Truong Le Khanh.
Companies - Wed, May 6, 2026 | 11:11 am GMT+7
Banks should cut lending rates to lowest possible level: Deputy PM
Vietnam’s Deputy Prime Minister Nguyen Van Thang has called for lending rates to be reduced to the lowest possible level, with a focus on priority sectors to better support businesses and economic growth.
Banking - Wed, May 6, 2026 | 8:50 am GMT+7
Japan’s Nishi-Nippon Railroad plans to build 22,000 homes in Vietnam by 2035
Japan’s Nishi-Nippon Railroad, widely known as Nishitetsu, plans to develop 22,000 housing units in Vietnam by 2035 via a partnership with local developer Nam Long Investment Corporation (HoSE: NLG).
Real Estate - Tue, May 5, 2026 | 9:49 pm GMT+7
Vietnam's tech unicorn VNG books record quarterly profit since 2022 listing
Vietnam’s tech unicorn VNG (UPCoM: VNZ) reported its highest quarterly profit since going public in 2022, as growth across core business segments and tighter cost controls lifted earnings in Q1/2026.
Companies - Tue, May 5, 2026 | 4:01 pm GMT+7
Dragon Capital Vietnam posts best quarterly profit in 3 years
Dragon Capital Vietnam (UPCoM: DCV) reported its strongest quarterly earnings in three years, driven by robust growth in investment advisory and asset management activities.
Companies - Tue, May 5, 2026 | 3:44 pm GMT+7
Petrolimex profit confusion rattles investors amid disclosure delay
Petrolimex, Vietnam's biggest gasoline retailer by market share, has come under scrutiny after delays and conflicting signals around its Q1/2026 earnings triggered sharp swings in its shares, highlighting risks for investors amid information gaps.
Companies - Tue, May 5, 2026 | 3:24 pm GMT+7
