Mai Thi Hong Hanh is the legal representative and General Director of Vietnam Oil Joint Stock Company.
According to VietinBank, the debt had a provisional balance of over VND 349.3 billion as of July 6, 2024. This includes a principal balance of over VND 271.3 billion and nearly VND 78 billion in interest.
According to our data, this debt has been classified as potentially irrecoverable since the end of March 2023.
Vietnam Oil Joint Stock Company was established in July 2021 and is headquartered at 200C Hung Vuong, Ward 5, Ben Tre City. Mai Thi Hong Hanh is the legal representative and General Director of the company.
Previously, on September 8, 2023, the Security Investigation Agency of the Ministry of Public Security (A09) issued a decision to initiate a criminal case and prosecute, arrest, and search the home of Mai Thi Hong Hanh (DOB: 1979), Director of Cross-Vietnam Oil Trading, Transportation and Tourism Limited Company, for “Violation of regulations on the management and use of state assets, causing waste and losses”, as prescribed in Clause 3, Article 219 of the Criminal Code.
It is known that Cross-Vietnam Oil is one of nearly 40 major wholesale gasoline and oil business enterprises nationwide, with the right to import and export gasoline and oil.
At a government press conference on July 6, Senior Colonel Hoang Anh Tuyen, Spokesperson of the Ministry of Public Security, said that Mai Thi Hong Hanh (Director of Cross-Vietnam Oil) and her accomplices had used the Price Stabilization Fund for gasoline and oil and environmental protection tax for business activities and personal use.
“In addition, Hanh used part of this money to establish relationships and bribe others. The Security Investigation Agency of the Ministry of Public Security is currently expediting the investigation of the case and the responsibility of related individuals for handling in accordance with the law,” said Senior Colonel Hoang Anh Tuyen.
“Regarding the case of violation of regulations on the management and use of state assets, causing waste and losses, irresponsibility causing serious consequences, bribery and taking bribes, and taking advantage of positions and powers to influence others for personal gain, which occurred at Cross-Vietnam Oil Trading and Transportation Company Limited (Cross-Vietnam Oil) and some related agencies and organizations, the Investigative Agency of the Ministry of Public Security has prosecuted 14 defendants for 5 groups of crimes,” said the Spokesperson of the Ministry of Public Security.
Competent authorities are also continuing to verify, freeze, and confiscate the property of related individuals to ensure the recovery of state assets.
In relation to the Cross-Vietnam Oil case, in April 2024, the investigative agency detained Tran Duy Dong, Deputy Director of the Trade Promotion Department, Ministry of Industry and Trade. Le Duy Minh, Director of Ho Chi Minh City Department of Finance (former Director of Ho Chi Minh City Tax Department), was also arrested for taking bribes.
In December 2023, the Security Investigation Agency initiated a prosecution and detained Le Duc Tho, former Secretary of the Provincial Party Committee of Ben Tre province, for investigation of the crime of taking advantage of positions and powers to influence others for personal gain.
Data shows that at the end of August, Cross-Vietnam Oil had nearly VND 5,500 billion in debt with 4 domestic banks, all classified as non-performing. Of these, 3 are state-owned commercial joint-stock banks and 1 is a private joint-stock commercial bank.
