Do Thanh Nhan and Do Duc Nam. (Photo: SGGP)
Accordingly, the prosecutor's office requested the Investigation Police Department of the Ministry of Public Security to clarify the nature of the violations committed by Do Thanh Nhan and Do Duc Nam (General Director of Tri Viet Securities Joint Stock Company) and their accomplices in manipulating the stock market for illegal profiteering. The time limit for additional investigation shall not exceed two months from the date on which the Investigation Police Agency receives the dossier and the decision to return the dossier.
As reported by the SGGP Newspaper, on September 16, the Investigation Police Agency completed the investigation conclusion No.42 of the above cases, then transferred all the dossiers to the Supreme People's Procuracy for a proposal to prosecute five related defendants.
According to the investigation conclusion, Louis Holding's main business is to import and export rice. From 2020 to the end of 2021, Louis Holding increased its equity from VND462 billion to more than VND1 trillion.
During that time, Louis Holdings bought ownership shares, controlling more companies, including six companies listed on the stock exchange to create an “ecosystem” of Louis Holdings.
The investigation agency determined that Do Thanh Nhan was the legal representative of three companies: Louis Holdings Joint Stock Company, An Giang Import-Export Joint Stock Company (stock code: AGM), and Lam Dong Pharmaceutical Joint Stock Company (stock code: LDP).
At the end of 2020, Do Thanh Nhan met Nguyen Van Dung, Chairman of the Board of Directors of Bao Thu Industrial Company (stock code: BII), a company with poor business performance, to discuss the acquisition of the company. After the agreement, Nhan, his relatives, and friends bought 9 million shares of BII.
In January 2021, advised by Do Duc Nam, Nhan continued to buy and acquire TGG shares of Truong Giang Joint Stock Company on the trading floor for about VND1,800 per share.
The investigation agency determined that Do Thanh Nhan then used securities accounts to buy and sell to increase liquidity and boost the prices of BII and TGG shares. These two people attempted to manipulate the stock market with the above two stock codes to gain illicit profits.
The investigation agency determined that Do Duc Nam was responsible for directing employees of Tri Viet Securities Company to carry out internal buy and sell orders, cross trade, matching orders to create ATC closing prices, and put-through trading with stock codes BII and TGG by securities accounts of Nhan.
Meanwhile, Nhan was responsible for directing relatives to receive, transfer, deposit, and withdraw money into securities accounts to buy and sell BII and TGG shares.
After agreeing on how to manipulate, Nhan’s relatives and friends registered to open 18 accounts at Tri Viet Securities Company and other companies. After opening these accounts, they were handed over to Nhan and Nam for use.
According to the conclusion, Do Thanh Nhan admitted to manipulating the stock market with two stock codes, BII and TGG, earning illegal profits of more than VND153 billion.
Do Duc Nam was determined to approve a loan for Nhan and directly instruct his subordinates to manipulate securities, helping Nhan illegally profit more than VND153 billion.
As reported by the SGGP Newspaper, on September 16, the Investigation Police Agency completed the investigation conclusion No.42 of the above cases, then transferred all the dossiers to the Supreme People's Procuracy for a proposal to prosecute five related defendants.
According to the investigation conclusion, Louis Holding's main business is to import and export rice. From 2020 to the end of 2021, Louis Holding increased its equity from VND462 billion to more than VND1 trillion.
During that time, Louis Holdings bought ownership shares, controlling more companies, including six companies listed on the stock exchange to create an “ecosystem” of Louis Holdings.
The investigation agency determined that Do Thanh Nhan was the legal representative of three companies: Louis Holdings Joint Stock Company, An Giang Import-Export Joint Stock Company (stock code: AGM), and Lam Dong Pharmaceutical Joint Stock Company (stock code: LDP).
At the end of 2020, Do Thanh Nhan met Nguyen Van Dung, Chairman of the Board of Directors of Bao Thu Industrial Company (stock code: BII), a company with poor business performance, to discuss the acquisition of the company. After the agreement, Nhan, his relatives, and friends bought 9 million shares of BII.
In January 2021, advised by Do Duc Nam, Nhan continued to buy and acquire TGG shares of Truong Giang Joint Stock Company on the trading floor for about VND1,800 per share.
The investigation agency determined that Do Thanh Nhan then used securities accounts to buy and sell to increase liquidity and boost the prices of BII and TGG shares. These two people attempted to manipulate the stock market with the above two stock codes to gain illicit profits.
The investigation agency determined that Do Duc Nam was responsible for directing employees of Tri Viet Securities Company to carry out internal buy and sell orders, cross trade, matching orders to create ATC closing prices, and put-through trading with stock codes BII and TGG by securities accounts of Nhan.
Meanwhile, Nhan was responsible for directing relatives to receive, transfer, deposit, and withdraw money into securities accounts to buy and sell BII and TGG shares.
After agreeing on how to manipulate, Nhan’s relatives and friends registered to open 18 accounts at Tri Viet Securities Company and other companies. After opening these accounts, they were handed over to Nhan and Nam for use.
According to the conclusion, Do Thanh Nhan admitted to manipulating the stock market with two stock codes, BII and TGG, earning illegal profits of more than VND153 billion.
Do Duc Nam was determined to approve a loan for Nhan and directly instruct his subordinates to manipulate securities, helping Nhan illegally profit more than VND153 billion.
