The Ministry of Public Security on April 20 issued a decision to conduct investigations into a case accused of manipulating the stock market at Tri Viet Securities Corp, Louis Holdings Group, Louis Capital JSC and relevant agencies, and detained four people.

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

The four are Do Thanh Nhan, Chairman of Louis Holdings Group and board member of Louis Capital; Do Duc Nam, CEO and board member of Tri Viet Securities Corp; Le Thi Thuy Lien, financial services executive of Tri Viet Securities; 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 to October 6, 2021, Nam collaborated with Nhan and others to use multiple stock trading accounts to buy and sell shares of Louis Capital (stock code: TGG), Louis Land (stock code: BII) and some other firms to manipulate their prices, illegally earning hundreds of billions of VND.

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

Source: VNA