Le Cao Quyen, chairman of the board of directors of Power Construction Consulting Joint Stock Company 4 (PECC4, stock code TV4), along with three other top executives, have been prosecuted and temporarily detained. The Ministry of Public Security's investigative agency announced today the arrests of Quyen, General Director Tran Cao Hy, Deputy General Director Nguyen Nhu Dong, and Chief Accountant Tran Le Thanh Binh. While the initial charges and specific violations remain undisclosed, PECC4 stated that its business operations and management activities are continuing as usual, adhering to legal regulations and internal governance rules.

The company affirmed its commitment to promptly disclose further information as required if any new developments emerge.

Established in 1976 as the Southern Power Planning and Design Sub-institute, PECC4 is a leading power construction consulting firm in Vietnam. Its core activities include consulting, surveying, and designing power generation and grid infrastructure projects.

Le Cao Quyen, chairman of PECC4. Photo: PECC4

The arrests at PECC4 are part of a wider investigation into alleged irregularities within Vietnam's power sector. Numerous executives from other power companies, including PC1, Power Construction Consulting Joint Stock Company 1 (TV1), Power Construction Consulting Joint Stock Company 2 (TV2), and Power Construction Consulting Joint Stock Company 3 (TV3), have faced prosecution in connection with a criminal case involving the National Power Transmission Corporation and PC1 Group.

For instance, PC1 Group announced the prosecution of its chairman, Trinh Van Tuan, and six other managers. The Ministry of Public Security's investigative agency accused them of "embezzlement of assets" and "violating accounting regulations causing serious consequences." Following four temporary detentions, PC1's board of directors now consists of a single member.

Similar actions have been taken against other consulting firms. Nguyen Chon Hung, chairman of Power Construction Consulting Joint Stock Company 2 (TV2), has been prosecuted. Additionally, Nguyen Huu Chinh, chairman of Power Construction Consulting Joint Stock Company 1, was arrested to clarify alleged violations. At TV3, Chairman Nguyen Nhu Hoang Tuan, General Director Lac Thai Phuoc, and Chief Accountant Pham Hoang Vinh were also temporarily detained.