Le Trung Nguyen Khoi, chairman of the Dong Thap Liquefied Petroleum Gas JSC in Dong Thap province, was arrested Monday for alleged embezzlement of property.
The arrest happened after the province’s investigative agency received a denunciation from the Dongthap Petroleum Trading Import Export JSC (Petimex) about Khoi and other board members of the Dong Thap Liquefied Petroleum Gas JSC.
The denunciation alleged that Khoi and other board members had sold shares and paid salaries and bonuses in violation of regulations, affecting the interests of other shareholders of the company.
Petimex has ownership in the Dong Thap Liquefied Petroleum Gas JSC.
Police said further investigation is underway.
Petimex is a partner of Japan's Sojitz in the Sopet Gas One joint venture, established in 2006. The former holds a 40% stake in the firm which trades liquefied petroleum gas (LPG).
Dong Thap is one of 12 provinces in the Mekong Delta, which also includes Can Tho city.