The trial is part of a crackdown on corruption and mismanagement in the energy and banking industries, which began after the security authorities of the country were given more influence in the communist state’s ruling party last year. The Vietnam police say they are investigating state rule violations at the company that led to a loss of about US$35 million for local lender Ocean Bank, as well as financial losses at PetroVietnam itself. The most senior of the executives that stand accused of corruption and other crimes is PetroVietnam’s chairman and former member of Vietnam’s politburo, Dinh La Thang, who was ousted from the supreme decision-making body and from his position as head of the Communist party in Ho Chi Minh City along with his removal from the PetroVietnam board. Another high-profile executive who will stand trial alongside Thang is Trinh Xuan Thanh. Thanh, according to German […]