HANOI – A court in Vietnam jailed two former officials of a Vietnam-Russia oil joint venture, after convicting them of abusing their power to appropriate property, state media said.

Vietnam is widening a corruption crackdown that has seen the Communist-ruled government launch investigations into hundreds of public officials and jail several executives at state-owned enterprises.

Tu Thanh Nghia, former chief executive officer of Vietsovpetro, and its former chief accountant, Vo Quang Huy, were found guilty of siphoning more than 6 billion dong (about A$365,943) of interest earned from the company’s account with domestic lender Ocean Bank, the Thanh Nien newspaper said.

The Hanoi People’s Court jailed Huy for seven years and Nghia received a three-and-a-half year term, it added.

Reuters could not immediately reach their lawyers for comment.

Vietsovpetro is 51 percent owned by state-run Vietnam Oil and Gas Group, and Russia’s Zarubezhneft holds the rest.

Reuters