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Prosecutors seek 10-year prison sentence for Tan Hoang Minh chairman in $350M bond scam

Prosecutors seek 10-year prison sentence for Tan Hoang Minh chairman in $350M bond scam

Prosecutors on Thursday recommended a 9-10 year prison term for property developer Tan Hoang Minh chairman Do Anh Dung, accused of defrauding 6,600 investors in a VND8.6 trillion (US$349.6 million) bond scam.
6,600 people lost $354M to real estate developer Tan Hoang Minh's bond scam: police

6,600 people lost $354M to real estate developer Tan Hoang Minh's bond scam: police

Do Anh Dung, chairman of real estate developer Tan Hoang Minh, was accused of issuing nine bond packages through subsidiary firms to steal over VND8.6 trillion (US$353.84 million) from 6,600 investors.
October 1, 2023 | 05:01 am PT
Disgraced property developer’s loans worth $12.6M to be sold by Agribank

Disgraced property developer’s loans worth $12.6M to be sold by Agribank

Agribank is auctioning four debts worth a combined VND307 billion ($12.6 million) owed by property developer Tan Hoang Minh’s subsidiaries, all collateralized by rents from a building it owns.
September 27, 2023 | 05:31 am PT
Bond issuers must fulfill payment commitments, finance ministry reiterates

Bond issuers must fulfill payment commitments, finance ministry reiterates

Bond issuers are solely responsible for redeeming their debts and investors need to be aware they are buying at their own risk, the Ministry of Finance has said.
November 15, 2022 | 11:44 pm PT
Vietnam tightens bond purchase after Tan Hoang Minh fraud

Vietnam tightens bond purchase after Tan Hoang Minh fraud

The government has issued a new decree to tighten regulations on purchase of corporate bonds to protect amateur investors from fraud.
September 19, 2022 | 11:43 pm PT
Coteccons posts loss in Q2 due to debt provisioning

Coteccons posts loss in Q2 due to debt provisioning

Leading construction company Coteccons reported a loss of VND24 billion ($10.36 million) for the second quarter after making a bad-debts provision of VND242 billion.
August 1, 2022 | 07:27 pm PT
Companies buy back bonds prematurely after Tan Hoang Minh arrests

Companies buy back bonds prematurely after Tan Hoang Minh arrests

Companies prematurely redeemed bonds worth VND49.1 trillion ($2.1 billion) in the second quarter, nearly four times the first quarter figure, spooked by the arrests of business executives for alleged issuance-related fraud.
July 26, 2022 | 04:30 am PT
Real estate group steals $343 mln from investors

Real estate group steals $343 mln from investors

A real estate group has cheated investors of more than VND8 trillion ($343.8 million) in a bond issuance fraud case, police said Thursday.
June 30, 2022 | 06:08 am PT
Tan Hoang Minh office closure to aid investor reimbursement

Tan Hoang Minh office closure to aid investor reimbursement

Real estate developer Tan Hoang Minh is set to shut down its offices across the country to focus on repaying investors after authorities canceled its bond issuances and arrested top leaders.
June 29, 2022 | 11:27 pm PT
Property companies under the scanner, stop issuing bonds

Property companies under the scanner, stop issuing bonds

Property companies’ bond issuances came to a complete halt last month following the government’s orders to the central bank to monitor them closely.
May 9, 2022 | 07:07 pm PT
Tan Hoang Minh to sell developments, refund bond buyers

Tan Hoang Minh to sell developments, refund bond buyers

Property developer Tan Hoang Minh Group, whose bond issuances worth VND10 trillion (US$437 million) authorities have canceled, said it would sell apartment projects to raise funds to refund investors.
April 14, 2022 | 07:37 pm PT
Blogger arrested for posting 'unverified' finance, stock market information

Blogger arrested for posting 'unverified' finance, stock market information

A popular Facebook blogger in Hanoi has been arrested for allegedly posting "unverified" information that negatively affected the financial and stock market.
April 14, 2022 | 06:52 am PT
Tan Hoang Minh: the anatomy of a bond issuance fraud

Tan Hoang Minh: the anatomy of a bond issuance fraud

Subsidiaries of real estate developer Tan Hoang Minh have been buying bonds from each other and illegally selling them to retail investors as an “investment partnership”.
April 9, 2022 | 08:30 pm PT
Tan Hoang Minh promises full refund after authorities cancel bonds issuance

Tan Hoang Minh promises full refund after authorities cancel bonds issuance

Property developer Tan Hoang Minh has pledged full refund to investors after authorities canceled the issuance of bonds worth VND10 trillion ($437 million) by the group.
April 5, 2022 | 05:41 am PT
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