US EditionVietnamese billionaire tycoon found guilty of defrauding stockholders, sentenced to 21 years
- The Hanoi People’s Court sentenced Trinh Van Quyet to 21 years in prison after a trial involving 49 defendants, as reported by VN Express.
- Quyet was found guilty of inflating the value of FLC Faros by reporting fictitious capital contributions before its 2016 public offering.
- The initial public offering sold 391 million shares to about 30,000 investors, defrauding them of 3.6 trillion Vietnamese dong, about $144 million.
23 Articles
23 Articles
Vietnamese billionaire tycoon Trinh Van Quyet jailed for defrauding stockholders of nearly $150m
Trinh Van Quyet's case comes amid a crackdown on widespread corruption in Vietnam, which has seen another tycoon sentenced to death for orchestrating the country's largest ever financial fraud.
Vietnamese billionaire tycoon sentenced to 21 years for fraud
A prominent Vietnamese business tycoon was found guilty Monday of defrauding stockholders of nearly $150 million by falsely inflating the value of his company, in a case that comes as the government cracks down on widespread corruption in the country.
Court jails Vietnamese tycoon for 21 years for US$146 million fraud: State media
HANOI: A former Vietnamese property and aviation tycoon was jailed for 21 years on Monday (Aug 5) for fraud and stock market manipulation worth US$146 million, state media said. Trinh Van Quyet was among 50 defendants found guilty in what is the latest corruption case targeting the communist country's busi
State media: Court jails Vietnamese tycoon for 21 years for $146 mn fraud
Hanoi — A former Vietnamese property and aviation tycoon was jailed for 21 years on Monday for fraud and stock market manipulation worth $146 million, state media said. Trinh Van Quyet was among 50 defendants found guilty in what is the latest corruption case targeting the communist country's business elite. A Hanoi court said Quyet, who owned the FLC empire of luxury resorts, golf courses and budget carrier Bamboo Airways, was given the heavi…
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