Two Vinatea board members arrested for causing state asset losses
Dang Ngoc Cam and Nguyen Quoc Khanh, board members of Vietnam Tea Corporation JSC (Vinatea), were detained for allegedly causing losses to state assets.
Lieutenant General To An Xo, spokesman for the Ministry of Public Security, said Sunday that the ministry’s investigative agency (C03) had initiated legal proceedings against Cam and Khanh on charges of “violating regulations on the management and use of state assets, causing losses and wastefulness”.
Previously, C03 detained Nguyen Thien Toan, former general director in charge of the Vinatea board of members, on the same charge.
Dang Ngoc Cam (right) and Nguyen Quoc Khanh, board members of Vinatea. Photo courtesy of the Ministry of Public Security.
The trio were accused of signing a board resolution on divestment of land use rights at 225 Nam Ky Khoi Nghia street, District 3, Ho Chi Minh City, according to initial investigation results.
The divestment was not conducted via a public auction, allegedly causing losses to state assets.
Vinatea was formerly a state-owned enterprise under the Ministry of Agriculture and Rural Development. In 2015, it was converted into a joint stock company. The company boasts productive tea gardens, highly skilled workers, and the largest tea output in the country.
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