Vietnam Police May Probe Novaland Over Use of Bond Proceeds

Vietnam’s government inspectorate has asked police to probe real estate giant Novaland Investment Group for possible misuse of bond proceeds, after a sweeping investigation into alleged corporate bond violations sparked a market selloff.

The Government Inspectorate of Vietnam released a report on Friday in which it requested the Ministry of Public Security investigate Novaland, one of the nation’s largest developers, alleging that the company misused proceeds from bond sales between 2015 and 2023.