Portrait of Mr Do Thanh Nhan, Chairman of Louis Holdings was recently apprehended
- 141
- Entrepreneur
- 11:28 23/04/2022
DNHN - Mr Do Thanh Nhan began his business as a rice trader in 2020 and quickly became a strange phenomenon in the market when a series of stocks in the Louis ecosystem continued to increase in price despite poor business results.
A paradox is that, despite his constant admissions that he is not a finance person and has no knowledge of securities, Mr Do Thanh Nhan frequently appears on numerous securities investment community groups lauded as a "superhero" and even dubbed "the prophet" when the group's stock price continued to rise sharply.
From 2003 to the present, Mr Do Thanh Nhan founded and served as the legal representative of numerous businesses in a variety of different industries, including transportation services, agricultural product trading, trade, and technology, and then built the Louis ecosystem into what it is today.
According to Mr Do Thanh Nhan, Louis Capital acts as an investment company within Louis' ecosystem, using finance to invest in other businesses to acquire their "core business" and existing assets.
However, by the end of June 2021, Louis Capital's total employee count was only four, one fewer than the company's Board of Directors. The asset base is slightly more than 300 billion, with less than a third in financial investments, and business activities have been declining steadily over the years.
Despite its status as a capital investment organisation, the company's business operations continuously lost money from 2016 to 2019.
According to the initial investigation results of the Investigative Police Agency of the Ministry of Public Security, there were grounds to determine that during the period from January 4, 2021, to October,r 6, 2021, Mr Do Thanh Nhan colluded with Mr Do Duc Nam, General Director of Tri Viet Securities JSC and other subjects using multiple securities trading accounts to buy, sell and entice others to buy and sell securities to manipulate the stock price of the JSC. Louis Capital (code TGG), Louis Land JSC (code BII) and other securities codes contrary to the law, illegally profiting hundreds of billions of dong.
Diep Binh - DNNY
Related news
- Why is it necessary to promote the process of green technology innovation in agriculture?
- Digital transformation in the retail industry – Towards sustainable development
- The banking sector sacrificed profits to support the economy
- The billionaire who donated 1 million USD to help Vietnam recover from the typhoon
- Practical applications of carbon credits in the economy. Part XXI:Carboncor Asphalt - An effective solution for Vietnam to achieve net zero emissions
- Ho Chi Minh City allocated funding to support small and medium enterprises in digital transformation
- Real estate businesses and macroeconomic challenges
- VINASME and VISA collaborated to promote financial solutions for small and medium-sized enterprises
- Vietnamese brands reaching international markets
- Hòa Phát Group leaders receive major pay hike during steel market crisis
- Apartment prices continue to rise far beyond workers' incomes
- Ho Chi Minh City: Economic recovery, yet the number of businesses exiting the market remains high
- General Secretary and President Tô Lâm: "Although it is a small and medium-sized business community, it is very large..."
- Practical applications of carbon credits in the economy. Part XI: Bridging policy and strategy for the carbon credit market
- Vietnamese users pay special attention to security when using OTT applications
- Is the gold price stabilization policy truly effective?
- Yen Bai: Implementing the plan to manage and eliminate ozone-depleting substances and greenhouse gases
- FPT's strategic expansion in Japan
- Mastering Real Estate Business Law to be ready for the next growth cycle
- The Vietnam Association of Small and Medium Enterprises honors an audience with the General Secretary and President Tô Lâm
#business results
HDBank Press Release: Mid-2024 Business Results
Ho Chi Minh City Development Joint Stock Commercial Bank (HDBank) has just released its financial report for Q2/2024, showing a half-year pre-tax profit of VND 8,165 billion, an increase of 48.9% compared to the same period last year.
Đọc thêm Entrepreneur
The impressive achievements of Zalo's founder Lê Hồng Minh
The founder of Zalo is also known as the founder of VNG. From his passion for gaming, he became a pioneer in the industry and built a billion-dollar empire.
Green Enterprise with sustainable strategy and ecological mindset
Recently, on August 29th, Phuc Khang Corporation (PKC) was honored with the title of “Green Enterprise of Ho Chi Minh City 2024.”
The massive fortune of the businesswoman behind the Phê La and Katinat chains
Not only is she a leader of several famous brands in the F&B industry such as Phê La, Katinat, and Dì Mai restaurant, but businesswoman Trương Nguyễn Thiên Kim also possesses a fortune worth thousands of billions of VND on the stock market.
CEO Lê Nguyên Hòa – LHLEGAL Law Firm honored to present opinions to General Secretary Tô Lâm
On the afternoon of August 22, at the Presidential Palace, Lawyer Lê Nguyên Hòa – Executive Director of LHLEGAL Law Firm, along with the delegation of the VINASME, had the honor to meet with General Secretary and President Tô Lâm.
Vina Chain: Seizing opportunities with a unicorn project
Recently in Hanoi, an event took place featuring a collaboration between Vietsmile Investment and Development JSC. and Dream Maker company, launching the Vina Chain platform-an opportunity to embrace trends with the unicorn project VPC.
Dr. Vũ Tiến Lộc - A business inspirer
During his 18 years as the President of VCCI, Dr. Vũ Tiến Lộc made significant and clear personal contributions to the business community and entrepreneurs. His sudden departure has left us with deep sorrow and a great void.
Vietnam's representative honored in Top 150 Global AI Pioneers
This year's list honors leaders worldwide who are pioneering the use of AI to address business and technological challenges for global enterprises.
Lê Thị Hồng and her journey from bank branch manager to successful businesswoman
After many years working in the financial and banking sector, with great ambitions, Lê Thị Hồng (Pinky Le) decided to quit her job at the bank to take a new direction for herself and become a successful businesswoman.
Asia's richest man intends to invest billions of USD in multiple projects in Vietnam
Gautam Adani, Chairman of Adani Group, expressed his desire for the Vietnamese government to direct, facilitate, and propose some suggestions to help the group boost its investment activities in Vietnam.
Chairman of Ha Do Group resigned
The Chairman of Ha Do Group has announced his resignation and has been preparing a succession plan, which was mentioned during the annual general meetings in 2022 and 2023.