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Update news stock market manipulation
Trinh Van Quyet, before being arrested for suspicion of stock market manipulation, became the richest Vietnamese businessperson after ROS shares rose from nearly zero to hundreds of thousands of dong per share.
The Ministry of Public Security on August 25 launched criminal proceedings against Trinh Van Quyet, former Chairman of FLC Group, and three others on a charge of fraudulent appropriation of property.
Ministry of Public Security investigators have arrested four more business executives on alleged charges of stock market manipulation.
Violations by the 2015-2020 State Securities Commission (SSC) Party Committee and its officials were found to have significant implications,
Many stock market manipulation cases have been discovered, and violators have been heavily punished in an effort to make the market more transparent.
In 2019, the Hanoi People's Court for the first time put a case of stock price manipulation to trial. Since then, many businessmen have had to pay a heavy price for their market manipulation.
The Ha Noi People's Court on Wednesday sentenced one person to 18 months in jail over stock market manipulation at Binh Thuan Mineral Industry JSC (KSA).