ANTD.VN - Mr. Nguyen Khanh Hung, Chairman of the Board of Directors of LDG Investment Joint Stock Company (stock code: LDG) was fined more than 520 million VND for not reporting the planned sale of 2.6 million LDG shares.
The State Securities Commission (SSC) has just issued a decision to administratively sanction Mr. Nguyen Khanh Hung, Chairman of the Board of Directors of LDG Investment Joint Stock Company (stock code: LDG).
The reason Mr. Hung was fined was because he committed an administrative violation of not reporting the planned transaction. Specifically, on August 15, Mr. Hung sold 2.6 million LDG shares but did not report to the Ho Chi Minh City Stock Exchange (HOSE).
For the above violation, the Chairman of LDG was fined more than 520 million VND. Along with that, he was subject to an additional penalty of suspension of securities trading activities for a period of 04 months.
Previously, HOSE also removed the above transaction of Mr. Hung.
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LDG Chairman Nguyen Khanh Hung was fined for selling shares without disclosing information. |
Explaining the reason for selling 2.6 million LDG shares without reporting the expected transaction, Mr. Nguyen Khanh Hung said that from August 8 to 15, he was on a business trip so he could not directly make the information disclosure.
Instead, he assigned the secretary to carry out the information disclosure, but because the new staff did not fully understand the regulations, it led to errors, delaying the information disclosure process.
LDG Investment Joint Stock Company is a large real estate company in Ho Chi Minh City. It is also the investor of Tan Thinh Residential Area (Dong Nai), a project that has caused a stir in public opinion recently when it caused a series of local officials to be entangled in legal trouble.
Specifically, in May, Dong Nai Provincial Police initiated a case of "Abusing position and power while performing official duties" to clarify violations in the illegal construction of 488 villas and townhouses at this project.
According to the previous inspection conclusion, LDG Investment Joint Stock Company has not been granted land allocation, land lease, permission to change land use purpose by competent state agencies and has not been granted a construction permit to carry out project investment.
However, LDG has organized the construction of 680 houses, including 198 villas. At the same time, LDG has signed a contract to sell houses to 60 customers for more than 132 billion VND while the project does not meet the conditions for real estate to be put into business according to regulations.
The inspection conclusion identified more than 20 other individuals involved in the violations, including: Director and Chief Inspector of Dong Nai Province Department of Construction during the period when LDG Company implemented the project; leaders of Trang Bom District People's Committee and a series of other local officials.
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