Viet Trung Minerals former director faces bribery and mismanagement charges

The Ministry of Public Security's Investigative Police Agency has completed a supplementary investigation into corruption and mismanagement at Viet Trung Minerals and Metallurgy Co., Ltd. (VTM), a subsidiary of the Vietnam Steel Corporation (VNS). The investigation recommends the prosecution of 31 defendants, including former VTM General Director Bùi Thanh Bình.

Bùi Thanh Bình faces charges including receiving bribes, violating regulations on the management and use of state assets causing loss and waste, and irresponsibility causing damage to state property. Investigators found that Bình conspired with ore and coal trading enterprises to receive bribes totaling over 62 billion VND. Specifically, he allegedly directed subordinates to set iron ore prices significantly lower than market rates in exchange for illicit payments. These actions resulted in estimated state losses exceeding 434 billion VND regarding iron ore transactions and 13 billion VND regarding coke trading.

To mitigate the consequences, Bình's relatives have reportedly paid 10 billion VND in installments between August 2025 and April 2026. Additionally, authorities have seized a 141.8m² apartment in Hanoi linked to him. Other officials from VTM and VNS, including former VNS Chairman Mai Văn Tinh, are also facing prosecution.