Fined a series of businesses related to Van Thinh Phat for bonds

For not publishing bond documents on time, An Dong and a series of companies in the Van Thinh Phat group were administratively fined.

The State Securities Commission has just decided to administratively sanction An Dong Investment Group - the "core" legal entity in Van Thinh Phat's ecosystem - related to bond issuance.

In particular, An Dong was fined VND92.5 million for not sending periodic information disclosure to the Hanoi Stock Exchange (HNX), including financial statements for 2022-2022, reports on capital use, principal and interest payments on bonds, etc. The company also sent similar documents for the 2021-2022 period late.

An Dong is one of the enterprises involved in the Fraudulent Appropriation of Assets case that occurred at Van Thinh Phat Group and some member companies and organizations. This group was accused of fraud in issuing and trading bonds to appropriate thousands of billions of VND from the people in the period of 2018-2019.

According to the Investigation Police Agency, from 2018 to 2020, the suspects committed fraudulent acts, violating the law to create 25 bond packages, with a total value of more than 30,000 billion VND, with the purpose of mobilizing money and then appropriating it.

Along with An Dong, the Securities Commission also issued 9 other administrative penalty decisions in the second half of March, with a total fine of 92.5 million VND.

Among these, some other enterprises in the Van Thinh Phat group were also penalized such as Quang Thuan Investment, Phu Chau Investment and Development, Norah Interior Design and Decoration.

Several other companies such as Dai Phu Hoa, Bach Hung Vuong, Osaka Garden, Sun Valley Investment, and Hoa Phu Thinh were also administratively sanctioned for the same reason as Van Thinh Phat group, for not sending periodic information disclosures to the Hanoi Stock Exchange.

The common point of this group of enterprises is that they have issued bonds related to a real estate project in An Phu ward, Thu Duc city (HCMC).

Minh Son

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