Vietnamese tycoon, former football boss sentenced to 30 years in prison for financial crimes
HANOI, Vietnam – A Vietnamese court has sentenced one of the country’s richest men to 30 years in prison after convicting him of financial crimes.
Nguyen Duc Kien, a flamboyant businessman who also headed the Hanoi ACB football club, was arrested in 2012 as part of what was seen as the fall out of a power struggle among Communist Party leaders.
A Hanoi court sentenced Kien on Monday after finding him guilty of millions of dollars of fraud at investment companies he ran.
Kien was the director of Asia Commercial Bank, one of the Vietnam’s largest. His arrest triggered a run on the bank’s deposits and highlighted concern about the weak state of Vietnam’s banking sector.
News from © The Associated Press, . All rights reserved.
This material may not be published, broadcast, rewritten or redistributed.
Join the Conversation!
Want to share your thoughts, add context, or connect with others in your community?
You must be logged in to post a comment.
