LDG Chairman fined over half a billion VND for illegally selling shares

On August 25, the State Securities Commission issued a decision to impose an administrative penalty on Mr. Nguyen Khanh Hung - Chairman of the Board of Directors of LDG Investment Joint Stock Company for failing to report on transactions. Mr. Nguyen Khanh Hung illegally sold more than 2.6 million shares on August 15. For this act, Mr. Hung was fined over VND 520.26 million and had his securities trading activities suspended for 4 months.

Fined the Chairman of LDG Investment Company over half a billion VND for illegally selling shares

Previously, the Ho Chi Minh City Stock Exchange (HOSE) announced the removal of Mr. Hung's stock sale transaction. All of the above shares were traded through order matching with a transaction value of nearly 16.7 billion VND. At the same time, HOSE sent an official dispatch requesting Mr. Nguyen Khanh Hung - Chairman of the Board of Directors of LDG to explain this. At the same time, HOSE also sent a document to VDSC to coordinate in implementing measures to control information before Mr. Hung's transaction.

According to the subsequent explanation, Mr. Nguyen Khanh Hung said that on August 15, he had made a transaction to sell more than 2.6 million LDG shares, but because he was on a business trip from August 8 to 15, he could not directly make the information disclosure. Instead, he assigned his secretary to make the information disclosure, but because the new staff did not fully understand the regulations, it led to errors, delaying the information disclosure process. On August 15, when he discovered the error, he requested additional processing to ensure compliance with regulations and stopped all transactions.

On the other hand, in the explanatory document, the Chairman of LDG stated that the above transaction was his personal transaction, not a transaction of shares owned by the company and was not related to the company's interests. Besides, the transaction was also not related to the interests between the company and its partners and customers...

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