In relation to the fraud case at Cadovimex Company, on July 27, the Ministry of Defense’s Criminal Investigation Agency announced that it has issued an indictment and arrest warrant for Mr. Vo Thanh Tien (born 1962, former Chairman and CEO of Cadovimex).
Mr. Tien, Photo: CAND
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Previously, the Ministry of Defense’s Criminal Investigation Agency had indicted and detained Mr. Ngo Van Phang (born 1968, from Ca Mau, former Chairman of Cadovimex); indicted and released on bail Mr. Vo Hung Cuong (former Deputy CEO of Cadovimex) and Mr. Duong Van Tuong (former Chief Accountant of Cadovimex).
Bank officials involved in this case who were indicted and released on bail include three officials from a bank branch in Ca Mau: Mr. Nguyen Van Khan, Mr. Tran Minh Duc, and Mr. Tran Huu Cuong; and two officials from banks in Ho Chi Minh City: Mr. Phan Dinh Cuong and Ms. Tran Thi Hong.
Two other bank officials have fled and are currently wanted: Mr. Nguyen Hung Cuong and Mr. Le Kim Hung.
All the aforementioned bank officials were indicted for violating regulations on lending activities of credit institutions.
On November 9, 2023, the Ministry of Defense’s Criminal Investigation Agency indicted five individuals related to the “Fraudulent Appropriation of Property” case occurring at Cadovimex. Among them, two were indicted and detained: Mr. Tang Gia Phong, Inspector of the Department of Agriculture and Rural Development of Ca Mau province, and Ms. Pham Thi Huong, former CEO of Cadovimex.
Three others were indicted and released on bail: Mr. Duong Ngoc Thoi (born 1976), former CEO of Cadovimex; Mr. Tran Hoang Giang, former CEO of Cadovimex; and Mr. Tran Minh Hoang, former Deputy CEO of Cadovimex.
These individuals were indicted for “Fraudulent Appropriation of Property” related to loan transactions at the Military Bank.
Cadovimex is a seafood processing, import, and export company established in the 1980s in Phu Tan district, Ca Mau province. Prior to 2010, the company engaged in borrowing activities from the Military Bank branch in Ca Mau…
According to the CAND newspaper, Mr. Tang Gia Phong was arrested for irregularities during his tenure at Cadovimex Joint Stock Company, related to the company’s loan dossier with a military bank, which resulted in a loss of repayment capacity.
From 2005 to July 2008, Mr. Phong served as the Chief Accountant of Cadovimex. In August 2008, he became the Deputy CEO of the company. Subsequently, he left Cadovimex and took up a position at the Department of Agriculture and Rural Development of Ca Mau province, where he was later appointed as the Inspector of the department.
