Facebooker with large following arrested over false information on stock, bond markets

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Đặng Như Quỳnh. — Photo from Facebook

HÀ NỘI — Facebooker Đặng Như Quỳnh, residing in Hà Nội, was arrested on Thursday.

Lieutenant General Tô Ân Xô, spokesperson of the Ministry of Public Security, said the 42-year-old man was arrested on charges of abusing democratic freedoms and rights to undermine the legal rights of the State, organisations, and individuals under the Penal Code.

The police also announced the commencement of legal proceedings against Quỳnh on Friday. He will be investigated over the posting of inaccurate information on his personal page that damaged people’s reputations and caused losses to investors.

Quỳnh has a large following on Facebook – over 318,000 followers currently – and frequently in recent times posted vague, cryptic information related to the high-profile cases of stock manipulation at FLC Group and the bond fraud at Tân Hoàng Minh Group which had already caused market volatility following the arrests of the two groups’ chairmen.

For example, he said the police will continue to launch legal proceedings and penalise some influential individuals and businesses on the financial and stock markets, which prompted a mass sell-off of the companies that he seemed to imply.

Previously in March 2020, Quỳnh was summoned by the police to clarify over 200 unverified and inaccurate social media posts on the COVID-19 situation in localities in the country.

Tô Ân Xô said the public security ministry has been cracking down on legal violations and unhealthy behaviours in the stock and bond markets, as well as the posting of unverified information that threatens the security of the markets.

“The publication of false information has negative affected public opinion and investor’s sentiment, undermined the financial and securities markets of Việt Nam, and caused damage to the reputation and economy of individuals, businesses, and investors,” said Lieutenant General Xô. — VNS

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