Police in Vietnam have begun investigations against two former senior officials of Agribank, the country’s largest lender by assets, for possible violations of regulations causing losses.
They said the violations by Nguyen Anh Tuan, former vice director of the state-owned lender’s Agribank Treasury Center (ATC), and Nguyen Tuan Anh, head of ATC’s trade department, had caused “serious consequences.”
ATC was founded in June 2004 and racked up a loss of almost VND500 billion ($31.1 million) in foreign currency trading by year-end.
The police initiated an investigation into the losses last year and found that most of them related to forex transactions done by Tuan who was not even authorized for such activities.
Besides, he had failed to report the loss to his superiors.
They also accused Anh of being directly responsible for the losses.
They summoned Tuan, Anh, and two other ATC officials for inquiry last October.
After the loss was reported, Agribank sacked the two but did not initiate any other action.
Source: Thanh Nien
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