December 18, 2018 / 11:02 AM / a year ago

Vietnam arrests former CEO of state oil firm: state media

HANOI (Reuters) - Vietnam has arrested a former senior executive of a state-owned oil company for “abusing power to appropriate property”, state media reported on Tuesday.

Do Van Khanh, former chief executive officer of PetroVietnam Exploration Production Corp, or PVEP, was arrested for alleged involvement in siphoning four billion dong ($171,541)of interest earned from PVEP’s account with domestic lender Ocean Bank, Tuoi Tre newspaper reported.

PVEP is a leading exploration and production arm of state oil firm PetroVietnam, formally known as Vietnam Oil and Gas Group.

Reuters couldn’t immediately reach Khanh’s lawyer for comment.

The arrest comes amid a widening crackdown on corruption in Vietnam, which has seen the Communist-ruled government launch investigations into hundreds of public officials and several executives at state-owned enterprises jailed.

Reporting by Khanh Vu; Editing by Nick Macfie

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