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General Director of Tri Viet Securities was dismissed

Board of Directors of JSC Stock Tri Viet (TVB) has just announced a resolution on dismissing Mr. Do Duc Nam from the position of General Director, a member of the Board of Directors cum General Director. Accordingly, Mr. Nam will no longer be the general director of the company from April 21.

Nam was made by the Board of Directors of Tri Viet Securities after this individual was investigated by the police agency, the Ministry of Public Security, and detained for manipulating the stock market. .

Specifically, according to the investigation documents, the police agency determined that from January 4, 2021 to October 6, 2021, Mr. Do Duc Nam colluded with Mr. Do Thanh Nhan, Chairman of Louis Holdings JSC and Mr. Do Thanh Nhan. 2 other individuals used multiple securities trading accounts to buy, sell and entice others to buy and sell securities.

The purpose of these transactions is to manipulate the stock prices of Louis Capital Joint Stock Company (TGG), Louis Land Joint Stock Company (BII) and other securities codes in contravention of the law, illegally profiting hundreds of thousands of dollars. billions dong.

General Director of Tri Viet Securities was dismissed - 1

Mr. Do Duc Nam was dismissed from his position as general director at Tri Viet Securities after being prosecuted for manipulating the stock market. Photo: TVB.

Mr. Do Duc Nam was born in 1983, became the acting general director at Tri Viet Securities since August 2019. In November of the same year, Mr. Nam officially became general director at Securities Company this.

Before joining Tri Viet, Mr. Nam held many management roles at different securities companies. In which, in the period 2011-2012, he was the head of brokerage department at ASEAN Securities Joint Stock Company. In the period 2012-2014, Mr. Nam was deputy director of An Binh Securities Company.

In 2015, he was appointed as director of An Binh Securities Company and in 2018 as director of HSC Securities Company. Since 2019, he has joined Tri Viet Securities and holds the role of a member of the Board of Directors cum General Director.

According to the company’s management report, Mr. Nam currently holds 550,000 TVB shares, equivalent to 0.491% ownership in Tri Viet Securities.

In addition, Mr. Nam is also related to Tri Viet Asset Management Corporation, the largest shareholder holding 50.51% of Tri Viet Securities. In which, Mr. Nam is a member of the Board of Directors at Tri Viet Asset Management Company.

Regarding the company’s business results, under Mr. Nam’s management, Tri Viet Securities has just experienced a boom in 2021 with record high business results.

Specifically, the financial statements show that Tri Viet Securities recorded 479 billion VND revenue in the latest year, increased by 180% compared to 2020. In which, the increase was mainly due to proprietary trading with an increase of 7.6 times in revenue. In addition, lending activities increased by more than one and a half times and brokerage revenue increased by 2.5 times also caused the company’s sudden high revenue.

After deducting the expenses incurred, Tri Viet Securities earns a net profit after tax 298 billion VND4 times higher than the previous year. Also in 2021, Mr. Nam’s income including salary and remuneration at Tri Viet is about 1.5 billion VNDthe highest board of management and corporate governance.

In the stock market, similar to “Louis” stock, TVB and TVC shares are experiencing a series of sharp declines when business leaders are prosecuted. Right now, both TVB and TVC are dropping to the limit and there are no buyers.

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