If Vietnamese Navy is that strong and capable of crippling the Chinese Navy, how come nobody on this world are writing anything about the Vietnamese Navy? Because there's nothing to write. I think this proofs my point about the ranking of the Vietnamese Naval force. I have not seen any other country building warships that many that fast other than China. I think these Vietnamese members know it too but nevertheless pretending to act how tough their Navy is. This is very sad to be honest seeing them spamming the forum endlessly while the moderators are allowing them to continue their insult towards the Chinese military. It drags down the quality of discussion, unsurprisingly affecting how others perceiving the couple of Vietnamese wrecking their own image on a global scale.
https://www.reuters.com/article/us-...shipbuilder-for-1-million-graft-idUSKCN1TE0NP
HANOI (Reuters) - Vietnam has jailed four former heads of state-owned shipbuilder Vinashin for terms of up to 17 years over abuse of power and embezzlement, state media said on Thursday, as the Southeast Asian nation cracks down on graft.
Vinashin’s former chief accountant, Tran Duc Chinh, was handed a
17-year jail sentence by the Hanoi People’s Court on Wednesday, the official Vietnam News Agency (VNA) said.
Former chairman Nguyen Ngoc Su received a
13-year term and a former director and a former deputy director of the company received sentences of seven and six years each, it added.
All four former executives were penalized for “abusing their positions and power to appropriate assets” at the company, the agency said.
Several of Vietnam’s high-ranking ministers and politicians, including one Politburo member and a string of police officers, have all received prison sentences in the crackdown on charges ranging from embezzlement to economic mismanagement.
Some government critics say the crackdown, which began under the leadership of ruling Communist Party chief Nguyen Phu Trong in 2016, has political motivations.
Vinashin, now known as the Shipbuilding Industry Corporation, was once a symbol of Vietnam’s postwar economic promise but became a debt-laden behemoth plagued by a corrupt leadership that siphoned off or misdirected cash into non-core investments.
It nearly collapsed in 2010 under the weight of almost $4.5 billion in debt. Nine other former executives at Vinashin were jailed in 2012.
From March 2011 to August 2014, the news agency said, former chief accountant Chinh received more than 105 billion dong ($4.5 million) in interest from large deposits Vinashin made at OceanBank, a domestic lender taken over by the central bank in 2015 after failing to pay its debts.
Chinh divided up that interest between the other three executives for use at the firm but all four were also able to pocket a combined 22.7 billion dong ($973,622.13) for personal use, the agency added.
The Hanoi People’s Court has ordered the four former executives to pay back the illegally appropriated funds, it said.
Chinh divided up that interest between the other three executives for use at the firm but all four were also able to pocket a combined
22.7 billion dong ($973,622.13) for personal use, the agency added.
The Hanoi People’s Court has ordered the four former executives to pay back the illegally appropriated funds, it said.