Vietnamese billionaire who defrauded stockholders out of US$150 million, sentenced to 21 years

Summary

• Vietnamese billionaire sentenced to 21 years for defrauding stockholders of nearly US$150 million
• Trinh Van Quyet falsely inflated the value of his company, FLC Group, before taking it public
• Several accomplices were named in the scheme, including officials from Vietnam’s State Securities Commission
• Anti-corruption campaign in Vietnam cracking down on corruption among private sector businesses