- Carpenter bomb stuns Guardians as Tigers level series
- Harris, Trump and Biden mark Oct. 7 attacks as US election looms
- Oil prices extend gains on Mideast tensions, Wall Street falls
- US judge orders Google to open Android to rival app stores
- On attacks anniversary, Israel fights 'sacred' multi-front war
- Nobel scientist uncovered tiny genetic switches with big potential
- Grammy-winning Cissy Houston, mother of Whitney, dies at 91
- UN biodiversity summit in Colombia aims to turn words into action
- Georgia Supreme Court reinstates six-week abortion ban
- 'Dark day': Victims mourned around the globe on Oct. 7 anniversary
- On attacks anniversary, Israel fights multi-front war
- Mexican mayor murdered days after taking office
- Intensifying to Category 5, Hurricane Milton targets Florida
- Mission to probe smashed asteroid launches despite hurricane
- Biden, Harris mark Oct. 7 with call for Mideast peace
- Dupont set for Toulouse return after post-Olympic holiday
- French rugby bosses tighten discipline after nightmare Argentina tour
- Oil prices extend gains on Mideast tensions, Wall Street slips
- Visitors to get rare view of Rome's Trevi Fountain
- Europe's asteroid mission Hera launches despite hurricane
- Man City and Premier League both claim victory in legal case
- Deschamps delight as 'light back on' for Pogba after doping ban
- Biden, Harris urge Mideast peace on Oct. 7 anniversary
- Neeskens, tough midfielder in Cruyff's Ajax and Dutch teams
- UN warns world's water cycle becoming ever more erratic
- Oil prices extend gains on Mideast tensions, Wall Street retreats
- Ex-Dutch football star Johan Neeskens dies
- Man Utd battling to improve fortunes, says Evans
- What is microRNA? Nobel-winning discovery explained
- Masood, Abdullah centuries lift Pakistan to 328-4 in first England Test
- Hurricane Milton strengthens fast, threatens Mexico, Florida
- Tunisia's President Saied set for landslide election win
- Barca hoping to return to Camp Nou 'by end of year'
- Trump to open second golf course at Scotland resort in summer 2025
- Super-sub Jhon Duran rewarded with new Aston Villa deal
- US duo win Nobel for gene regulation breakthrough
- Masood hits first ton for four years to power Pakistan to 233-1
- Fritz wins delayed match to reach Shanghai Masters third round
- Naomi Osaka pulls out of Japan Open with back injury
- Weather may delay launch of mission to study deflected asteroid
- China to flesh out economic stimulus plans after bumper rally
- Artist Marina Abramovic hopes first China show offers tech respite
- Asian markets track Wall St rally on US jobs data
- Pakistan 122-1 at lunch in first England Test
- Kazakhs approve plan for first nuclear power plant
- World marks anniversary of Oct. 7 attack on Israel
- 'Second family': tennis stars hunt winning formula with new coaches
- Philippines, South Korea agree to deepen maritime cooperation
- Mexico mayor murdered days after taking office
- Sardinia's sheep farmers battle bluetongue as climate warms
RBGPF | -1.97% | 58.94 | $ | |
JRI | -0.76% | 13.18 | $ | |
SCS | -0.15% | 12.95 | $ | |
BCC | 1.68% | 141.27 | $ | |
CMSC | -0.53% | 24.57 | $ | |
AZN | -0.78% | 76.87 | $ | |
BTI | -0.26% | 35.2 | $ | |
GSK | -0.49% | 38.63 | $ | |
NGG | -1.56% | 65.48 | $ | |
RELX | -0.54% | 46.04 | $ | |
BCE | -0.54% | 33.53 | $ | |
RIO | -0.11% | 69.62 | $ | |
RYCEF | -1.45% | 6.88 | $ | |
BP | 0.78% | 33.14 | $ | |
VOD | 0.31% | 9.69 | $ | |
CMSD | -0.09% | 24.79 | $ |
Trial starts for Vietnam tycoon in $146 million graft case
A former Vietnamese property and aviation tycoon charged with $146 million in fraud and stock market manipulation went on trial in Hanoi Monday, the latest corruption case targeting the communist country's business elite.
Trinh Van Quyet, who owned the FLC empire of luxury resorts, golf courses, and the budget Bamboo Airways, had nearly $2 billion in stock market wealth before his arrest, according to state media estimates.
But on Monday the 48-year-old -- handcuffed and dressed in a white shirt -- was led into court by police officers.
The trial comes just days after the death of former Communist Party of Vietnam leader Nguyen Phu Trong, who is credited with spearheading a crackdown on graft at the highest levels.
Trong, 80, died on Friday at a military hospital in Hanoi "due to old age and serious illness", the party said, a day after announcing he was standing down to seek medical care.
Tycoon Quyet is accused of illegally pocketing more than $146 million between 2017 and 2022.
Following his arrest in March 2022, 49 other alleged accomplices were picked up -- including his two sisters and the former chairman of the Ho Chi Minh Stock Exchange and its chief executive officer.
According to the prosecution indictment, Quyet set up several stock market brokerages and registered dozens of family members to, ostensibly, trade shares.
But police said while orders to buy shares were placed in hundreds of trading sessions -- pushing up the value of the stock -- they were cancelled before being matched.
The case is part of a national corruption crackdown that has swept up numerous officials and members of Vietnam's business elite in recent years.
In April, a top Vietnamese property tycoon sentenced to death in a $27 billion fraud case, launched an appeal against her conviction.
The head of one of Vietnam's top soft drinks companies, meanwhile, was jailed for eight years in April in a $40 million fraud case.
Y.Kobayashi--AMWN