Vietnam Police May Probe Novaland Over Use of Bond Proceeds (1)

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.

Novaland said it had fully settled more than 15 trillion dong ($569 million) worth in bonds and had addressed existing issues, according to a statement on the ...