Louis Holdings Chairman Arrested for Stock Market Manipulation
On the evening of April 20, the Ministry of Public Security's Investigation Agency issued a decision to prosecute and temporarily detain Mr. Do Thanh Nhan - Chairman of the Board of Directors of Louis Holdings Joint Stock Company to investigate suspicions of stock market manipulation.
On April 20, 2022, the Ministry of Public Security's Investigation Police Agency issued a Decision to prosecute the case.“Stock market manipulation”occurred at Tri Viet Securities Joint Stock Company, Louis Holdings Joint Stock Company, Louis Capital Joint Stock Company, Louis Land Joint Stock Company and related units; at the same time, issued a Decision to prosecute the accused, an Order to arrest the accused for temporary detention, and a Search Order for 4 individuals for the crime of "Stock market manipulation" as prescribed in Article 211 of the Penal Code.
The individuals prosecuted include:
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| The subjects of the case. |
Do Thanh Nhan - Chairman of Louis Holdings Joint Stock Company, member of the Board of Directors of Louis Capital Joint Stock Company, Louis Land Joint Stock Company. Trinh Thi Thuy Linh - Administrative Director of Louis Holding Joint Stock Company. Do Duc Nam - General Director of Tri Viet Securities Joint Stock Company. Le Thi Thuy Lien - Financial Services employee of Tri Viet Securities Joint Stock Company.
The investigation results and collected evidence documents have grounds to determine: During the period from January 4, 2021 to October 6, 2021, Do Thanh Nhan - Chairman of the Board of Directors of Louis Holdings Joint Stock Company, member of the Board of Directors of Louis Capital Joint Stock Company, Louis Land Joint Stock Company colluded with Do Duc Nam - General Director of Tri Viet Securities Joint Stock Company and other subjects to use many securities trading accounts to buy, sell and entice others to buy and sell securities to manipulate the stock prices of Louis Capital Joint Stock Company (code TGG), Louis Land Joint Stock Company (code BII) and other securities codes in violation of the law, illegally profiting hundreds of billions of VND.
After the Supreme People's Procuracy approved, the Ministry of Public Security's Investigation Police Agency organized the execution of the Decisions/Orders of prosecution against the defendants to ensure compliance with the provisions of law.Currently, the Ministry of Public Security's Investigation Police Agency is focusing its forces to consolidate documents and evidence of the defendants' criminal acts, expand the investigation, search for and thoroughly recover assets for investors./.
