Vietnamese CEO found murdered

Wed, 04 Jun 1997, 00:00 WIB | Source: DPA

HANOI (DPA): Vietnamese police said Monday that they now
suspect a company executive found dead this weekend was murdered
and that he was the key middleman between a state bank and an
embattled private conglomerate, according to local press reports.

"We are now suspecting murder," Maj. Col. Nguyen Manh Trung,
deputy director of Ho Chi Minh's investigation department, was
quoted saying in Thanh Nien newspaper yesterday.

Nguyen Van Ha, 44, chief financial officer of the embattled
Minh Phung Garment Co, was found dead Saturday with a metal wire
tied around his neck in the elevator machine room of a building
belonging to the state-owned Incombank, police reported.

Incombank is reported to have been the largest creditor to
Minh Phung and a cluster of other subsidiaries which together
wracked up bad debts totaling more than US$370 million in a
failed bid to wrest a large piece of Ho Chi Minh City's booming
property market.

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