Company bosses could face charges for fake invoices

The police proposed that the Supreme People’s Procuracy, which acts as the country’s top prosecution office, to prosecute Hung and the company’s chief accountant, Ho Hoang Anh, for irresponsible financial management.

The invoices, written by senior officials from the company, were for transporting cables and renting vehicles, but the officers actually used the money for personal purposes, according to ministry investigators.

Police recommended that nine other employees at the company be prosecuted for abuse of power and invoice forgery.

Tran Van Dung, director of one of Potmasco’s branches, was also found to have created a limited company under another person’s name and then made contracts for Potmasco to buy from that company at prices much higher than market prices, investigators said.

Dung caused Potmasco a loss of more than VND730 million ($43,000) by that act, according to police reports.

Both Hung and Anh have confessed to allowing the scams to take place, according to police. They told investigators they had approved the requests for money without checking what the money had actually been spent on.

Doan Minh Don, a branch director who had made fake invoices worth VND420 million ($24,000), paid back the money he siphoned in the scam before helping police break the case in 2007.

Source: TN, VNA