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Former Vinalines top execs sentenced to death

Former Vinalines top execs sentenced to death
Two former executives at Vietnam National Shipping Lines (Vinalines) were found guilty of embezzlement and sentenced to death yesterday by a Hanoi court, as the government tries to clamp down on corporate corruption.

The People’s Court of Hanoi sentenced Duong Chi Dung, the former chairman of Vinalines  and Mai Van Phuc, its former general director, to death for embezzlement, according to a verdict read at the court today. The two former executives were convicted of embezzling VND10bn ($474,000) each.

Dung and Phuc have 14 days to appeal the verdict. It was not immediately clear if they would appeal. Capital punishment in Vietnam is by lethal injection.

Last month, a former banker at a state-owned bank and his business associate were sentenced to death for embezzlement.

In 2012 Pham Thanh Binh, former chairman of Vietnam Shipbuilding Industry Group (Vinashin) was jailed for 20 years misappropriated funds and causing the collapse of the group.

Dung had been the architect of the port master plan which pushed international terminal operators to invest in the development of five international terminals in Cai Mep However, many of them have had to suspend operation due to the lack of cargo and services calling the port complex and because of lack of infrastructure to move exports and imports to the Ho Chi Minh City area.

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