Tran Tuyet Mai, chairwoman and CEO of major Vietnamese gasoline distributor Hai Ha Petro, has been accused of misusing the gasoline price stabilization fund, causing a loss of VND317 billion ($12.9 million) to the state budget.
On Tuesday, Mai and the company’s chief accountant Le Thi Hue were detained by the investigative agency of the Ministry of Public Security (C03) on charges of “violating regulations on the management and use of state assets causing losses and wastefulness”, and “violating accounting regulations causing serious consequences”.
On the same day, Nguyen Thi Ngoc Anh, another staff from Hai Ha Petrol, was arrested for “violating accounting regulations causing serious consequences”.
Mai was accused of instructing her employees not to deposit the amount set aside for the price stabilization fund into the prescribed account and using the funds illegally, causing a loss of VND317 billion ($12.9 million) to the state budget.
According to C03, the accused created and used two accounting books and did not declare or pay environmental protection tax on more than 3.8 million liters of A95 gasoline sold in 2020, causing an estimated loss of over VND15 billion ($610,460) to the state coffers.
On January 9, C03 simultaneously searched five workplaces and petroleum storage warehouses run by the enterprise, seizing nearly 1.3 million liters of DO oil, more than 100,000 liters of A95 gasoline, and nearly 130,000 liters of A92 gasoline.
Hai Ha Petro is one of 36 petroleum trading enterprises headquartered in the northern province of Thai Binh. It has petroleum stations in many northern provinces and cities such as Hanoi, Hai Phong, Quang Ninh and Thai Binh.
On January 12, Hai Ha Petro had its license revoked by the Ministry of Industry and Trade for abusing the price stabilization fund and outstanding taxes.
Another gasoline giant, Xuyen Viet Oil, is also being investigated by the police in another case regarding “violating regulations on the management and use of state assets, causing losses and waste; showing lack of responsibility, causing serious consequences; giving bribes; and accepting bribes” that occurred at Xuyen Viet Oil Travel and Transport Trading Company Limited and related agencies.