On 22/5, Power Engineering Consulting Joint Stock Company 1 (TV1) issued an unusual information disclosure. It stated that Nguyen Huu Chinh had been prosecuted and temporarily detained by the Investigation Police Agency of the Ministry of Public Security. Initial charges and specific violations remain undisclosed.

Chinh, 55, is from the former Bac Giang province. He has served as chairman of TV1's Board of Directors since April 2021. Previously, he was a board member and deputy general director overseeing the company's hydropower sector.

TV1's origins trace back to the General Design Institute, established in 1960. It was later renamed the Institute for Electrical Planning and Design. After several name changes and mergers, the company adopted its current name in 1999 and transitioned to a joint stock company model in 2008.

TV1 currently trades on the stock exchange at 24,100 dong per share.

Nguyen Huu Chinh before his arrest. *Photo: TV1*

This arrest follows the prosecution of Nguyen Chon Hung, chairman of Power Engineering Consulting Joint Stock Company 2 (stock code TV2). Hung faces charges related to a case involving the National Power Transmission Corporation, PC1 Group Joint Stock Company, and other associated entities nationwide.

PC1 Group also disclosed that its chairman, Trinh Van Tuan, and six other management personnel were prosecuted by the Investigation Police Agency of the Ministry of Public Security. The accusations include embezzlement and violating accounting regulations, resulting in serious consequences. Following the temporary detention of four individuals, PC1's Board of Directors now comprises only one member.