According to a representative of the Ministry of Public Security, bank tycoon Nguyen Duc Kien was accused of two more charges on Tuesday, September 18.
The 48-year-old tycoon was earlier arrested and has been in detention since August 20 on charges of conducting illegal business malpractices.
Some companies in Hanoi founded by Kien were discovered to have been carrying out illegal trading activities and on August 24, Ly Xuan Hai, ACB’s former director general was also detained and charged with "intentionally violating State regulations on economic management, causing serious consequences".

Kien’s new charges are “intentionally violating State regulations on economic management, causing serious consequences” and “cheating to misappropriate other people's assets”.
On the same day, the Investigation Police Agency also decided to arrest and start criminal proceedings against Tran Ngoc Thanh and Nguyen Thi Hai Yen, director and chief accountant of Stock Investment Company of ACB branch in Hanoi as Kien’s accomplices.
Tycoon Kien was co-founder of Asia Commercial Joint Stock Bank (ACB), one of Vietnam’s largest banks. He is currently one of the 20 richest persons in Vietnam based on stock reports.
He was also deputy chairman of the Vietnam Professional Football Joint Stock Company (VPF) and chairman of the Hanoi Football Club.
He was also a founding shareholder in several other commercial banks such as Kien Long Commercial Joint Stock Bank and the Vietnam Export-Import Commercial Joint Stock Bank.