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

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

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

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