Doan Tien Dung, deputy general director of the Bank for Investment and Development of Vietnam

Hanoi police on Thursday launched an investigation into bribery charges against the deputy general director of a major bank, and arrested another bank official for involvement in the case.

After discussions, the company agreed to pay the 54-year-old, who has been BIDV deputy general director since September 2008, the sum of VND10 billion (US$541,560).

Dung was earlier the director of a branch in the northern port city of Hai Phong, where the company is headquartered.

Half of the kickback was first given to Le Thi Thanh Binh, 37, vice director of the BIDV branch in Hai Phong, who then transferred it to Dung through deposits, according to Hanoi police.

On Tuesday, a senior official of the company gave Dung some VND1 billion at a local pho restaurant in Hanoi, where he was caught red-handed.

Hanoi People’s Procuracy on Thursday decided to extend Dung’s arrest to another three days.

Also Thursday, the bank said it had suspended all officials implicated in the case.

Source: Thanh Nien, Tuoi Tre