Illustrative image (Photo: VNA) A representative of the ministry said on April 6 that the recent wrongdoings in thesemarkets related to FLC Group and Tan Hoang Minh Group are unfortunate cases,but the settlement shows the determination of the management agency in makingthe markets transparent.
The ministry is willing to coordinate with relevant agenciesto strictly handle wongdoings.
Minister of Finance Ho Duc Phoc recently sent an official dispatchrequesting the State Securities Commission, the Accounting and AuditingSupervisory Department, and the Inspectorate of the Ministry of Finance tostrengthen inspection and supervision over the implementation of regulations inauditing listed enterprises.
On April 5, the Ministryof Public Security decided to launch criminal proceedings against and detain DoAnh Dung, Chairman of the Tan Hoang Minh Group, on charges of "obtainingproperty by fraud".
Initial investigations found out that from July 2021to March 2022, the 61-year-old man and many individuals in the group committed fraud byusing three subsidiary companies – Ngoi Sao Viet Real Estate Investment LLC.,Soleil Hotel Investment and Hotel Services JSC, and Cung Dien Mua Dong JSC - todistribute unlawful bonds nine times, totalling 10.3 trillion VND (450 millionUSD).
On March 29, the force also decided to launch criminalproceedings against and detain Trinh Van Quyet, Chairman of the FLC Group JointStock Company, pending investigations into suspicion of stock marketmanipulation.
Quyet is being investigated on the charge of "manipulatingthe stock market" and "concealing information in securitiesactivities". On January 10, he sold 74.8 million FLC shares without any reportsand notifications in advance as stipulated in regulations, triggering publicconcern. He was fined 1.5 billion VND(65,600 USD), the heaviest penalty in line with regulations, and banned from stock trading activities for five months./.
Minister of Finance Ho Duc Phoc recently sent an official dispatchrequesting the State Securities Commission, the Accounting and AuditingSupervisory Department, and the Inspectorate of the Ministry of Finance tostrengthen inspection and supervision over the implementation of regulations inauditing listed enterprises.
On April 5, the Ministryof Public Security decided to launch criminal proceedings against and detain DoAnh Dung, Chairman of the Tan Hoang Minh Group, on charges of "obtainingproperty by fraud".
Initial investigations found out that from July 2021to March 2022, the 61-year-old man and many individuals in the group committed fraud byusing three subsidiary companies – Ngoi Sao Viet Real Estate Investment LLC.,Soleil Hotel Investment and Hotel Services JSC, and Cung Dien Mua Dong JSC - todistribute unlawful bonds nine times, totalling 10.3 trillion VND (450 millionUSD).
On March 29, the force also decided to launch criminalproceedings against and detain Trinh Van Quyet, Chairman of the FLC Group JointStock Company, pending investigations into suspicion of stock marketmanipulation.
Quyet is being investigated on the charge of "manipulatingthe stock market" and "concealing information in securitiesactivities". On January 10, he sold 74.8 million FLC shares without any reportsand notifications in advance as stipulated in regulations, triggering publicconcern. He was fined 1.5 billion VND(65,600 USD), the heaviest penalty in line with regulations, and banned from stock trading activities for five months./.
VNA
