Exec of sports equipment company arrested for illegal property project
Police have arrested the chairman of Vietnam’s sole importer and seller of sports guns on charges of abusing of power to appropriate property.
Bui Duy Nghia, chairman of Vietnam Sport Joint Stock Company (Vinasport JSC), was arrested on September 28. Police also raided his house in Hanoi.
Initial investigation found that Nghia decided to cooperate with Megastar Company to invest in a construction project in Thanh Xuan District, despite a lack of consensus from other shareholders in his company.
Vinasport JSC, a trader of sports, construction and medical equipment, has not been allowed to expand to property business.
Police said after making personal decisions to cooperate with Megastar Company in 2008, he also appropriated more than VND1 billion (US$44,450) from the partner.
Vinasport is the only company in Vietnam authorized to import sport guns and sell them to clubs and sports centers nationwide.