A former Vietnamese property and aviation tycoon charged with $146 million in fraud and stock market manipulation went on trial in Hanoi Monday, the latest corruption case targeting the country's business elite. Tycoon Quyet is accused of illegally pocketing more than $146 million between 2017 and 2022. According to the prosecution indictment, Quyet set up several stock market brokerages and registered dozens of family members to, ostensibly, trade shares. In April, a top Vietnamese property tycoon sentenced to death in a $27 billion fraud case, launched an appeal against her conviction. The head of one of Vietnam's top soft drinks companies, meanwhile, was jailed for eight years in April in a $40 million fraud case.

Source: Tuoitre News July 22, 2024 15:21 UTC