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Louis group shares have been in the ‘sight’ of the SSC for a long time

The content was shared with the press by a representative of the State Securities Commission (SSC) right after the investigative police agency of the Ministry of Public Security prosecuted the case of “Stock market manipulation” that occurred at the Joint Stock Company. Tri Viet Securities, Louis Holdings Joint Stock Company and related entities.

Arresting Louis Holdings Chairman: Louis group shares have been in the 'target' of the State Securities Commission for a long time - 1

Police searched locations related to the “stock market manipulation” case on the evening of April 20.

Accordingly, the representative of SSC said that the prosecution and detention of those who have manipulated securities is not the first time on the stock market. Manipulative behavior stock market always implicit in any stock market.

“From the time of detecting abnormal transactions, to handling a securities manipulation case, the authorities must conduct a close investigation, which requires many complex and costly operations. The results of the investigation continue to be a practical demonstration that shows the Government’s very drastic direction in strictly handling violations, in order to enhance transparency, health and sustainability for the market. stock market”, SSC representative said.

On the basis of monitoring results and information reflected in the press about the increase in prices of some shares related to Louis group, the SSC representative said that the committee has directed functional units, exchanges to The stock exchange closely monitors the transactions of these securities. At the same time, ask the stock exchanges to report the analysis and monitoring of the trading of shares of the Louis group.

Determining that this is a complicated case, affecting the stock market, SSC has actively discussed and coordinated with the police to handle the case. Specifically, SSC has checked transactions for TGG and BII stocks. On the basis of the test results of TGG and BII stock transactions, the securities management agency determined that there were signs of price manipulation for TGG and BII shares of the group of accounts related to Do Thanh Nhan, owner. Chairman of Joint Stock Company Louis Holdings.

Because the case showed signs of violating the criminal law, SSC has transferred to the investigating agency all documents and documents related to the results of checking transactions of TGG and BII shares for investigation and handling according to regulations. legislation.

Previously, SSC had made many decisions on administrative sanctions for violations at related companies in the “Louis Group” such as: fined Louis Holdings more than 161 million VND due to transactions exceeding the registered value and suspended. stock trading for 2 months; fined more than 232 million VND for TGG due to a series of violations on disclosure of information and corporate governance….

On the evening of April 20, the Investment Police Agency of the Ministry of Public Security said that it was investigating and verifying a case with signs of stock market manipulation that occurred at Tri Viet Securities Joint Stock Company, Louis Holdings Joint Stock Company and a number of companies involved.

According to the police, from January 4, 2021 to October 6, 2021, Do Thanh Nhan, Chairman of the Board of Directors of Louis Holdings Joint Stock Company, a member of the Board of Directors of Louis Capital Joint Stock Company, and Louis Land Joint Stock Company colluded with Do Duc Nam, General Director of Tri Viet Securities Joint Stock Company and other subjects using many securities trading accounts to buy, sell and entice others to buy and sell securities to manipulate share prices of shares of Louis Capital Joint Stock Company (code TGG), Joint Stock Company Louis Land (code BII) and other securities codes contrary to the law, illegally profiting hundreds of billions of dong.

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