HANOI – The former chairman of Vietnam‘s second largest listed bank has been arrested for alleged violations of banking regulations, the public security ministry said.

Tran Bac Ha, former head of the Joint Stock Commercial Bank for Investment and Development of Vietnam, or BIDV, was accused of “violating regulations on banking operations,” the Ministry of Public Security said on its website.

Police have arrested two other former senior executives at the bank and placed another under house arrest for alleged involvement in the case, the ministry said.

The arrests come amid a widening crackdown on corruption in Vietnam, which has seen the Communist-ruled government launch investigations into hundreds of public officials, and several executives at state-owned enterprises jailed.

Reuters