Vietnam sentences shipping line executives to death for embezzlement

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By Alex Lennane

16/12/2013

And we thought the US Department of Justice was tough. In Vietnam, both the former CEO and chairman of state-owned shipping company Vinalines have been sentenced to death for embezzlement. Found guilty of siphoning off some $950,000, they were also ordered to repay money after the company made losses of $17.3m. Vietnam has been attempting to restructure state-owned companies such as Vinalines, copying South Korea’s Chaebol model. But it hasn’t quite worked out like that…

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