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Banking & Finance

Another Ocean Bank leader arrested

Released at: 11:34, 14/03/2015

Another Ocean Bank leader arrested

Fourth leader detained following lending violations.

by Nguyen Hung

Police from the Ministry of Public Security (C46) arrested Mr. Nguyen Xuan Thang, 36, Deputy Director of the Major Customers and Strategic Partners Unit at Ocean Bank on March 12, on charges of violating State regulations on economic management causing serious consequences.

Ms. Nguyen Minh Thu, former General Director of the Ocean Bank, was arrested by police on January 28. Mr. Nguyen Van Hoan, the founder of the bank’s lending council, and Mr. Ha Van Tham, 43, former bank Chairman, have also been arrested on charges of breaching lending regulations pursuant to Article 179 of the Penal Code.

Ocean Bank has seen many changes in its management structure, with the General Director position still vacant after Ms. Thu’s arrest. Its Deputy General Director is managing operations.

Three days ago, Mr. Pham Ngoc Dung, Deputy Director of the Corporate Customer Unit, was promoted to Deputy General Director while also retaining his current position.

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