Tan Hiep Phat Beverage Group has appointed David Riddle its new general director after Tran Qui Thanh was arrested on Monday for "abusing trust to appropriate property".
Riddle is also legal representative of Tan Hiep Phat, the largest Vietnamese beverage company.
"David Riddle has extensive management experience at large corporations in the world. He has been working for Tan Hiep Phat for more than 13 years as vice board chairman and plays an important role in the group's development," the company said in a release Tuesday.
Tan Hiep Phat added that it has been affected by the arrest of Tran Qui Thanh, its founder and general director, and is striving to minimize the impact on its operations and partners.
The Ministry of Public Security's investigative agency (C01) on Monday detained Tran Qui Thanh and his two daughters Tran Uyen Phuong and Tran Ngoc Bich Thanh for abusing trust to appropriate property. C01 searched the three defendants' residences and workplaces at nine locations.
According to the investigative agency, the prosecution is handling complaints made by people from Ho Chi Minh City and Dong Nai province who accused the trio and other individuals of fraudulently appropriating property, abusing trust to appropriate property, and evading tax. Such acts are related to projects and real estate of great values in Dong Nai and HCMC.