HO CHI MINH CITY, Vietnam (Reuters) - Vietnamese police have arrested the former chief executive of Asia Commercial Bank over accusations of violating state regulations on management, the official Vietnam News Agency reported on Friday.
Ly Xuan Hai, 47, was arrested on Thursday for "intentional wrongdoings that violated state regulations on economic management, causing serious consequences" and will remain in detention for four months, the report said, citing police investigators.
The bank said late on Thursday that Hai had resigned. It has faced a run on deposits since Tuesday after one of its founders, well-connected tycoon Nguyen Duc Kien, was arrested for running illegal businesses.
(Writing by Ho Binh Minh; Editing by Alan Raybould)
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