Vietnam Starts Criminal Proceedings Against Gia, Lao Dong Says

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Vietnam has started criminal proceedings against Tran Xuan Gia, former chairman of Asia Commercial Bank, and three other officials for alleged economic mismanagement, Lao Dong newspaper reported on its website today.

Gia and the three former vice-chairmen of the bank, Le Vu Ky, Trinh Kim Quang and Pham Trung Cang, allegedly violated state regulations on economic management, the newspaper said quoting a police investigation unit. The former bank executives are cooperating with the investigation and have been ordered to stay at their residences, according to the report said.