The boss of a trillion-dollar company on the stock exchange resigned after a gambling scandal.

Phu Tai Joint Stock Company has received a resignation letter from Mr. Do Xuan Lap - an independent member of the Board of Directors.

Mr. Do Xuan Lap - Photo: DN Website

The above information was announced by Phu Tai Joint Stock Company (PTB) today (March 25).

Mr. Do Xuan Lap's resignation letter was not attached. However, according to Phu Tai Company, Mr. Lap resigned for personal reasons.

The resignation of the Board member will take effect upon approval at the 2025 Annual General Meeting of Shareholders.

According to the plan, Phu Tai will hold a general meeting of shareholders this April in Quy Nhon, Binh Dinh. The closing date for the shareholder list is March 21.

Previously, Mr. Do Xuan Lap was prosecuted and temporarily detained for 4 months for the crime of " Gambling " at the beginning of this year.

At the time Mr. Lap was arrested, Phu Tai Joint Stock Company announced that Mr. Do Xuan Lap was an independent member of the board of directors and did not directly participate in the management and operations of the company.

Therefore, Mr. Lap's prosecution does not affect the company's production and business operations, Phu Tai representative emphasized.

Regarding business situation, Phu Tai's revenue in 2024 reached more than 6,656 billion VND, reaching 108% of the year plan and increasing 17% over the same period.

Phu Tai's pre-tax profit reached more than 471 billion VND, reaching 102% of the yearly plan, up 46% over the same period.

In addition to his role at Phu Tai, Mr. Lap is also the chairman and legal representative of Tien Dat Wood Industry Joint Stock Company, headquartered in Quy Nhon city, Binh Dinh.

Tien Dat Wood Industry was established in 1999, specializing in manufacturing interior and exterior products, forestry products, and handicrafts.

Regarding the business situation, according to Tuoi Tre Online, Tien Dat Wood Industry's revenue in 2022 reached 940 billion VND, and pre-tax profit was 52 billion VND. The average income of employees at this company is about 7.2 million VND/month.

Mr. Do Xuan Lap is also the legal representative of Vietnam Wood Industry Fair Joint Stock Company. At the same time, Mr. Lap is known to many people as the chairman of the Vietnam Timber and Forest Products Association (Viforest).

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Source: https://tuoitre.vn/sep-mot-cong-ty-nghin-ti-tren-san-tu-nhiem-sau-be-boi-co-bac-20250325202635631.htm