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Another officer of listed pharmacist Vien Dong arrested

In Uncategorized on December 16, 2010 at 10:09 am

Another official of the drug maker Vien Dong was arrested for manipulating share prices, according to the market watchdog.

Le Van Dung (left) shakes hand with an official of the Ho Chi Minh Stock Exchange (Photo:www.viendonggroup.com.vn)

Nguyen Van Viet, member of Vien Dong Joint-Stock Company’s Board of Director, was taken into custody for manipulating share prices, the State Securities Commission of Vietnam said on its website on December 6.


In the same day, the stock market watchdog also asked the pharmaceutical firm listing on the Ho Chi Minh City bourse to inform its shareholders within 24 hours.


Earlier police kept three other officials under a temporary detention for the same violation. They include former chairman of the Board of Directors and general director Le Van Dung, his brother Le Van Manh, and deputy general director and chief accountant Cao Hong Van.


Dung and some other people reportedly created various share trading accounts to manipulate share price of the drug producer Ha Tay (DHT) listing on the Hanoi Stock Exchange.


He also set up many companies run by his friends and relatives to manipulate his own firm’s revenue.

Source: SGGP

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