Vietnamese tycoon sentenced to 21 years for defrauding stockholders

Trinh Van Quyet was sentenced to 21 years (AP Photo/Anh Tuc)

A prominent Vietnamese business tycoon has been found guilty of defrauding stockholders of nearly 150 million dollars (£117 million) by falsely inflating the value of his company, in a case that comes as the government cracks down on widespread corruption in the country.

The Hanoi People’s Court sentenced Trinh Van Quyet, 48, to 21 years in prison after a two-week trial that included 49 defendants who were named as accomplices, state-run VN Express reported.