Da Nang deputy director prosecuted for embezzlement

Authorities in Da Nang, Vietnam, have initiated criminal proceedings against Tran Van Phuoc, the deputy director of a branch of T.P.V.S.G. Trading and Production Co., Ltd. Phuoc, 45, has been prosecuted and is currently detained as part of an investigation into alleged embezzlement of company assets.

According to initial findings by the Da Nang City Police's Criminal Investigation Agency, Phuoc was appointed deputy director of the company's Da Nang branch. In his role, he was directly responsible for managing business operations, customer transactions, sales, deliveries, and collecting payments. He was required to remit all collected funds to the company according to regulations.

Investigators determined that Phuoc collected over 377 million Vietnamese dong from customers but failed to deposit the money into company accounts. Instead, he allegedly retained the funds for his personal use without company authorization or reporting. The full amount remains unreturned.

The investigation, based on evidence and testimonies, concluded that the 377 million dong constituted company property entrusted to Phuoc for management during his duties. His actions were deemed an appropriation of assets, not a loan or civil transaction. The agency stated that Phuoc's use of the money for investment and subsequent business losses does not alter the nature of the asset misappropriation. Authorities believe there is sufficient evidence to indicate Phuoc's actions constitute the crime of embezzlement.