HANOI, Mar 29 (Reuters) – Vietnamese police on Tuesday arrested the chairman of one of the country’s largest private groups on accusations of manipulating the stock market, the Ministry of Public Security said.
Trinh Van Quyet, chairman of property and leisure company FLC Group and Bamboo Airways, is also accused of hiding stock transaction information, the ministry said in a statement.
FLC, which owns dozens of resorts and golf courses throughout the country, didn’t immediately respond to a Reuters request for comment.
According to the ministry, Quyet sold 74.8 million shares of FLC on Jan. 10 without notifying market authorities as required.
FLC shares closed down 7% on Tuesday at 12,650 dong apiece.
(Reporting by Khanh Vu; Editing by Bernadette Baum)
