Friday, August 24, 2012

Vietnam arrests banking tycoon, bank shares fall


Vietnam arrests banking tycoon, bank shares fall

Reuters
August 21, 2012



Vietnamese police have arrested a banking tycoon and summoned another senior executive for questioning, state media said on Tuesday, reigniting concern over Vietnam's fragile banking industry.
Nguyen Duc Kien, the well-known multimillionaire founder of Asia Commercial Joint Stock Bank, was accused of wrongdoing in connection with three private firms, state-run Vietnam Television quoted the Police Ministry as saying in a statement.
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