The former chairman of Vietnam Shipbuilding Industry Group (Vinashin) along with eight other executives are to be prosecuted for mismanagement.

    Pham Thanh Binh and other officials are accused of causing a loss of VND 910bn ($43m) that led to the near bankruptcy of Vinashin last year.

    Vietnamese media are reporting that Pham Thanh Binh has been charged with “deliberately acting against state regulations on economic management” and will face trial.

    Along with the executives 20 other lower ranking executives are also accused and according to reports have already been fined.
 

(source:asiasis)