Securities firm head, accomplices arrested for stock market manipulation

The police examine headquarters of Tri Viet Securities Corp (Photo: VNA)

Hanoi (VNA) – The Ministry of Public Security on April 20 issued a decision to conductinvestigations into a case accused of manipulating the stock market at TriViet Securities Corp, Louis Holdings Group, Louis Capital JSC and relevantagencies, and detained four people.

The four are Do Thanh Nhan, Chairman of Louis Holdings Groupand board member of Louis Capital; Do Duc Nam, CEO and board member of Tri VietSecurities Corp; Le Thi Thuy Lien, financial services executive of Tri VietSecurities; and Trinh Thi Thuy Linh, managing director of Louis Holdings Group.

They are all accused of “manipulating the stock market”under Article 211 of the Criminal Code.

Initial investigation results showed that from January 4 toOctober 6, 2021, Nam collaborated with Nhan and others to use multiplestock trading accounts to buy and sell shares of Louis Capital (stock code:TGG), Louis Land (stock code: BII) and some other firms to manipulatetheir prices, illegally earning hundreds of billions of VND.

The police are collecting more evidence of the suspects’violations and expanding investigations into the case./.

VNA