
When once-famous tycoons 'fell from grace' because of gold.
Two once-famous tycoons, Nguyen Duc Kien and Tran Phuong Binh, lost everything because of gold investments.

Two once-famous tycoons, Nguyen Duc Kien and Tran Phuong Binh, lost everything because of gold investments.

Regarding irregularities in the auction of "boss" Kien's villa, the head of the Civil Enforcement Department of District 10 has been criticized.

Mr. Nguyen Duc Kien (also known as "Bau Kien") has just submitted a notice registering to divest all 66.132 shares with a par value of 1 million VND each (corresponding to a capital stake of over 66 billion VND) in VietBank.

The candidate, allegedly belonging to the group of shareholders linked to Mr. Kien, was not approved for the ACB Board of Directors; nearly 10 am, the ACB shareholders' meeting had still not been able to take place.

Six years after the establishment of VPF, Mr. Duc and Mr. Thang left the powerful bodies of Vietnamese football, and VPF no longer bears the mark of the founding tycoons.

According to a source, Mr. Nguyen Duc Kien (also known as "Bau Kien") is currently receiving medical treatment at a hospital.

While Nguyen Duc Kien (Bau Kien) remained imprisoned, Asia Commercial Bank (ACB), under the leadership of Tran Mong Hung, experienced significant growth, increasing Bau Kien's wealth by hundreds of billions of dong over the past five years.

In recent years, a series of banking tycoons have been embroiled in legal troubles; most recently, the wealthy businessman Tram Be...

Last week, people suddenly started reminiscing about Mr. Truong, Mr. Kien, Mr. Duc… as well as the stories about red cards on the football field and in their lives.

Chairman Duc once breathed a sigh of relief for not getting involved in any "hot" bank deals, but many football "big names" are now facing bitter consequences with banks.

Not to be outdone by their male counterparts, many female entrepreneurs have asserted their power and wealth on the Vietnamese stock market.

The bank restructuring period is likened to a time of "quelling the unrest" and preventing collapse.

It is expected that from May to August 2016, authorities will hold auctions for three properties belonging to "Chairman Kien" to recover nearly 79 billion VND for the State budget.

Despite facing setbacks from investors over the weekend, the banking giants still made a fortune.

On July 2nd alone, a number of major banks such as BIDV, Vietcombank, and Vietinbank unexpectedly received bonuses exceeding ten trillion VND.

The strategist from Ha Dong revealed a lot of personal information and behind-the-scenes details about relationships within Vietnamese football.

In 2014, the cases of Huynh Thi Huyen Nhu and Nguyen Duc Kien – two major cases in the banking sector – were brought to trial and attracted significant public attention.

In 2014, the banking market witnessed many "shocking" events, most notably the legal troubles faced by major banks.

The 30-year prison sentence for bầu Kiên can be seen as the latest "declaration of war" against vested interests within the banking system that have existed for a long time.

Bầu Kiên's 30-year prison sentence was upheld, while Bầu Long also fared worse after embezzling hundreds of billions of dong.

The appellate court rejected the appeal and upheld the 30-year prison sentence for Nguyen Duc Kien on four charges: tax evasion, fraud, intentional wrongdoing, and illegal business activities.

The appellate panel of the Supreme People's Court is pronouncing the verdict on defendant Nguyen Duc Kien and his accomplices.

Defendant Nguyen Duc Kien (Chairman Kien) read his final statement before the verdict was announced, but still broke down in tears when mentioning his parents and family during the appeal trial.

Defendant Nguyen Duc Kien refuted all the arguments presented by the Prosecutor's Office over the past two days regarding the charges against him.

"Boss" Kien said he had offered to use his own money, 718 billion VND, to rectify the mistakes of ACB bank.

The defendants, who were accomplices of "boss" Kien, successively requested the panel of judges to consider mitigating circumstances to reduce their sentences.

Defendant Nguyen Duc Kien defended himself against the charges before the panel of judges.

(VTC News) - A representative from the Supreme People's Procuracy concluded that the first-instance judgment of the Hanoi City People's Court was well-founded and recommended rejecting all appeals from "Chairman" Kien and the other defendants.

(VTC News) - During this morning's court session, defendant Nguyen Duc Kien requested permission to provide additional documents and evidence related to the case.

(VTC News) – The Hanoi People's Committee has just released a report on the situation of anti-corruption efforts in the city in 2014.