Former finance minister faces discipline for mismanagement

By Pham Du   June 15, 2024 | 05:41 am PT
Former finance minister faces discipline for mismanagement
Former finance minister and current secretary of Hanoi's Party Committee Dinh Tien Dung attends a meeting on Nov. 10, 2023. Photo courtesy of the National Assembly
The Party Central Inspection Committee recommended Saturday that former finance minister Dinh Tien Dung be disciplined for mismanagement regarding bond issuance, national budget folly, and a slew of other allegations.

The inspection committee said it had already disciplined several former leaders of the Ministry of Finance. Its leaders have also announced they are recommending that the ministry's Party Committee for the 2016-2021 term be disciplined for violating "democratic centralism principles" and "negligence in management."

The violations resulted in the ministry, along with certain individuals and organizations, violating regulations and the law regarding state management and policies regarding the issuance of business bonds, including businesses under the Van Thinh Phat property giant and its subsidiary An Dong, whose chairwoman Truong My Lan was sentenced to death last April in US$27 billion bank scam, as well as the management of the national budget related to the Advanced International Company (AIC) and other businesses that are part of AIC's ecosystem.

Over the last two years, AIC has been investigated for bidding violations at several units and localities. Its chairwoman Nguyen Thi Thanh Nhan was accused of several crimes, including bribery and bidding violations, but has been evading authorities and is internationally wanted.

Violations at the these businesses have resulted in severe consequences and risked great losses to the national budget, as well as damages to investors. They also negatively affected the business and investment environment, social order and safety, and the reputation of the Party and state management entities.

The ones responsible for these violations include former finance minister Dinh Tien Dung, the ministry's Party Committee for the 2016-2021 term, along with several leaders at the ministry.

Dung, 63, had been the finance minister from June 2013 to March 2021. From April 2021, he has been the secretary of Hanoi's Party Committee.

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