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Securities firm boss arrested for alleged stock loan scam

Jan 21st at 13:08
21-01-2013 13:08:44+07:00

Securities firm boss arrested for alleged stock loan scam

Police have arrested the general director of Ha Noi-based Trang An Securities Joint Stock Company Le Ho Khoi over alleged stock loan scams.

Khoi was arrested on Friday after allegedly instructing his staff to forge documents certifying the securities codes of his company's clients in order to claim loans from the Sai Gon –Ha Noi Commercial Bank using their details.

The defendant was born in 1961 and holds a PhD in economic science. Prior to his current post he worked in a variety of agencies in the finance sector including the Ministry of Finance, the State Securities Commission of Viet Nam, the State Pricing Committee and the Viet Nam Development Bank.

Immediately after Khoi's arrest, the State Securities Commission requested the Trang An company to make a public announcement about the alleged irregularities within 24 hours.

The commission also asked stock trading floors, the central securities depository and all involved stockholders to take necessary measures to protect the legitimate rights of investors.

The commission will continue working with the police in investigating the Trang An company further.

Khoi was the fifth senior executives of securities companies to be arrested since the beginning of 2012

vietnamnews

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