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Trinh Van Quyet, chairman of property and leisure company FLC Group and Bamboo Airways, is also accused of hiding stock transaction information, the ministry said in a statement.
FLC, which owns dozens of resorts and golf courses throughout the country, didn’t immediately respond to a Reuters request for comment.
According to the ministry, Quyet sold 74.8 million shares of FLC on Jan. 10 without notifying market authorities as required.
FLC shares closed down 7% on Tuesday at 12,650 dong apiece.
