Vietnam arrests tycoon for lending fraud

Vietnam arrests tycoon for lending fraudSocialist Republic of Vietnam(Photo: Getty Images/iStockphoto)HANOI, Vietnam (AP) — Police in Vietnam have arrested a prominent businessman and one of the country’s richest men on suspicion of lending fraud, as authorities step up their crackdown on financial crimes in a bid to clean up the debt-ridden banking sector.Ha Van Tham, former chairman of the board of the private Ocean Bank, was taken into police custody in Hanoi on Friday for “violating lending regulations,” the Ministry of Public Security said in a statement posted on its website late Friday. Police searched his house and workplace.

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