POST Online Media Lite Edition


Police in Vietnam arrest MobiFone’s deputy general director and former general director

Staff Writer |
On Wednesday morning, the Ministry of Public Security in Vietnam arrested Cao Duy Hải, former general director of the State-owned MobiFone Telecommunications Corporation, the third largest telecom firm in Vietnam, and Phạm Thị Phương Anh, deputy general director of the company.

Article continues below

The two were arrested for violating regulations on managing and using public investment capital, under the 2015 Penal Code.

On August 21, The Ministry of Information and Communications (MIC) announced that Hải was relieved from his positions as general director of MobiFone and as a member of the company’s Member Council.

The Party Central Committee’s Inspection Commission said Hải, 57, committed many serious violations by consulting the council to submit to the MIC to approve and implement MobiFone’s purchase of a 95 per cent share in the private AVG Audiovisual Joint Stock Company. He was also accused of directly signing many documents related to the project in contradiction to regulations.

The commission said Hải’s violations were very serious, resulting in a big loss of State assets, negatively impacting MobiFone’s equitisation process and hurting the prestige of the ministry.

It also removed all of Hải’s positions in the Party.

Anh was disciplined in August for participating in negotiations with AVG shareholders.

Anh made a contract to transfer shares with AVG shareholders, without carefully checking the legal status of those shareholders, leading to property damage to MobiFone.

Previously, the commission also disciplined Lê Nam Trà, Chairman of the company’s Members’ Council, and Phạm Đình Trọng, head of Enterprise Management Department under the MIC, by removing them from the Party.

On July 10, the Ministry of Public Security took Trà and Trọng into custody for violating regulations on managing and using public investment capital.

MobiFone announced in January 2016 that it had bought 95 per cent of AVG’s shares.

According to the company’s financial statements for 2015 and the first six months of 2016, MobiFone paid about VNĐ8.9 trillion (US$390 million) to buy the shares.

Soon after that the Government Inspectorate discovered that AVG was incurring losses after the acquisition. The irregularities and the irresponsibility of MobiFone cost the State some VNĐ7 trillion ($301 million), including AVG’s liabilities of VNĐ1.13 trillion ($48.6 million).

On March 12, 2018, AVG’s shareholder group and MobiFone’s Board of Directors terminated the contract and decided MobiFone would return AVG’s shares to the group of shareholders. The shareholders would refund the full amount that MobiFone paid, plus interest and related expenses.

What to read next

Ex-Aeroflot top manager sentenced to 8 years for $122.5m embezzlemet
Michigan health director charged with involuntary manslaughter in tainted Flint water
German police arrest suspect over alleged supermarket extortion attempts

Two more ships carrying over 70,000 tons of grain leave Ukraine

Türkiye's National Defense Ministry said that two more ships carrying over 70,000 tons of grain have left Ukraine's port.


Breedon Group acquires Severn Sands
Baker Hughes acquires Power Generation Division of BRUSH Group
EXMAR sells floating liquefaction unit to Eni
China's foreign trade of goods up 10.4% in first seven months


U.S.: Heat and possible flooding to start off the week

China tests fish for coronavirus onboard boat
Spanish rail operator Renfe suspends bullet train service after cable theft
Collapse of UK NHS dentist practices: People pull out their own teeth without anaesthesia
Renewed heatwave expected across UK
Federal Police of Brazil launches operation to dismantle illegal fishing association in Vale do Javari


Italy reduces LNG imports due to terminal closure, Gazprom transit request via Ukraine at 41.8 mcm

Felixstowe: Strikes announced at biggest UK port as company fails to make acceptable pay offer
Iran’s export of products to Turkey up 81% in H1
Highlights: August 1, 2022 - August 6, 2022
Riva Wind and Arizona sail from Ukraine with 105,000 tons of grain
New York: Start of construction on $75 million rehabilitation of public housing in Ithaca

Trending Now

Micromanaging is the worst enemy of efficiency and teamwork

Government of Canada invests in improving animal welfare

Cape Town and Dubai battle over Africa's energy future

Oil discovery in Kavango Basin may mean huge benefits for Namibians


New Mexico Governor announces financial relief for businesses through Wildfire Grant Program

Diapers and feminine hygiene products no longer taxed in Colorado
Australia to permit offshore wind farms
U.S. Senate approves financial package expected to total more than $700 billion
Iran not to give up on its water share rights
Italy grants Ukraine EUR 200 mln preferential loan for teachers' salaries

Today We Recommend

U.S. Senate approves financial package expected to total more than $700 billion


Community First Bancorporation Q2 earnings increased 154.9%

Avalara to go private in $8.4 billion deal with Vista Equity

Pfizer to acquire Global Blood Therapeutics for $5.4 billion


Agreement signed between Nokia, EAI on making Nokia mobile phones in Egypt

Accord Healthcare launches generic doxorubicin pegylated liposomal concentrate
Avalara to go private in $8.4 billion deal with Vista Equity
Siemens Energy starts restructuring business in Russia, plans to complete exit in fall
Pfizer to acquire Global Blood Therapeutics for $5.4 billion
Emerson to sell InSinkErator to Whirlpool for $3 bln


Horizon Bancorp appoints Thomas M. Prame as president

Encora appoints Deepak Bhandari as EVP, head of corporate development
Firmenich: Maurizio Clementi interim president of taste and beyond division
Joyce Farms appoints two new leaders
Shore Bancshares appoints Esther A. Streete as director
Liberty Group Construction Services appoints Jeffrey VanderVorst as EVP


EU trade in services balance hits €133 billion in 2021

Japan's current account shrinks 63.1 pct in H1
Bulgaria's GDP reached record 68 billion euros last year
Oman posts $2 billion surplus in H1
Germany: Industrial production rebounds in June
Inflation in Laos rises to 25.6 pct in July


Hawaiian Electric Industries net income $52.5 million

Community First Bancorporation Q2 earnings increased 154.9%
Siemens Energy Q3 orders continued to be strong
Barrick Q2 net earnings per share $0.27
Berkshire Hathaway Q2 net loss attributable to shareholders $43.76 billion
Goodyear Q2 net income more than doubles


Micromanaging is the worst enemy of efficiency and teamwork

Niger set to monetize massive gas reserves through Saharan natural gas pipeline
Putting the brakes on EV folly that choked the market
Oil discovery in Kavango Basin may mean huge benefits for Namibians
Cape Town and Dubai battle over Africa's energy future
Is America going to lose its superpower status?


Vietnam: Agro-forestry and fishery exports in July 2022 estimated at 4.76 billion USD

Government of Canada invests in improving animal welfare
COVID quarantine for imported processed seafood in Vietnam to be removed
Ukraine needs to transport up to 5 mln tonnes of crops per month to export both new and last year's harvest
Equine infectious anemia confirmed at horse facility in Clark County, Nevada
Deadly rabbit disease confirmed in Thurston County, Washington


If company overcomes post-IPO innovation slump, it will survive longer

62% of consumers will stop buying from brands that compromise products to cut costs
Companies must invest to avoid supply chain scandal or pay the price in lost consumers
How awards, recognition decrease inventors' creativity
Keeping employees is harder than ever. And we don't have good news
How much is 'great resignation' costing companies?


PwC fined $2 million over BT audit after fraud discovered in Italy

Guardia di Financa finds unregistered foreign company operating in e-commerce
Iowa AG sues tobacco companies over $133 million in withheld payments
AG Bonta announces $15.5 million judgment against Rent-A-Center
Illinois AG Raoul announces agreement with former opioid maker Allergan
AG Shapiro secures preliminary agreement with Teva for $4.25 billion



Buffalo Bill is coming to Manitowoc with his Wild West show

Pullman Doha West Bay Hotel opens in Qatar
DoubleTree by Hilton hotel opens in Malaysia
Great Dorset Chilli Festival, the hottest festival in UK
Selina Serenity Rawai Phuket Hotel opens in Thailand
254 Room W Toronto Hotel opens


Porsche unveils newest generation of 911 GT3 R

2023 Subaru Crosstrek sells like hotcakes
New Mercedes‑Benz GLC, at home on any terrain
GMC unleashes new 2023 Sierra 1500 AT4X AEV Edition
First BMW M3 Touring presented
Southern Wind Power of 2, just for you and ocean ahead


Nobody's Child, everybody's favorite

Freddy WR.UP, pants that hug you in all the right places
Stylishly luxurious house design
Great design ideas that might not work for you
Garden mirrors, explore new views of your garden
Unusual and highly functional lamps


Shure MV7 professional dynamic microphone now available in new limited-edition color

Forget streaming services, use McIntosh MR89 to enjoy AM/FM music
Infinix NOTE 12 PRO, first smartphone powered by MediaTek Helio G99
MW75 active noise-cancelling headphones, variety of new features
Parasound JC 1+ mono power amplifier by John Curl, pure delight
Cambridge Audio SX80, stylish loudspeakers for any room


At least 12 deaths reported in cholera outbreak in Afghanistan's Jawzjan

Batten disease, a group of fatal genetic disorders
German government supports development of nasal COVID-19 vaccine
Cases of West Nile virus on the rise in Italy
U.S. declares monkeypox public health emergency
South Africa reports first death causally linked to COVID vaccine


Ancient source of oxygen for life hidden deep in Earth's crust

Length of Earth's days has been increasing, scientists don't know why
South Korea launches first lunar orbiter
Bantu speakers crossed through Central African Rainforest 4,000 years ago, changed everything
Webb telescope captures colorful Cartwheel Galaxy
Sadiq Khan launched £3.1m tree planting package to combat climate change