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Billionaire Tycoon Gets 21-Year Sentence for Fraud

Condensed News Lead:

A prominent Vietnamese business tycoon has been sentenced to 21 years in prison after being found guilty of defrauding stockholders of an aviation company.

Details:

The 49-year-old tycoon, whose name has not been released, was sentenced Monday in Hanoi. He was found guilty of defrauding stockholders of more than $20 million. The charges relate to his role in a scheme to inflate the value of the aviation company's stock. Prosecutors said the tycoon used the inflated stock prices to secure loans from banks.

The tycoon was also ordered to pay $20 million in restitution to the stockholders. He has appealed the sentence.

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