Vietnam Widens Probe Into Developer’s $1.2 Billion of Bond Sales

Vietnamese authorities widened a probe into scandal-hit developer Van Thinh Phat Holdings Groupover possible irregularities in bond sales, in a case that’s emerging as a spotlight on the nation’s crackdown on corruption.

The public security ministry is investigating the group and its related entities for allegedly appropriating assets linked to the issuance of bonds worth over 30 trillion dong ($1.2 billion). The notes were sold by four companies between 2018 and 2020, according to a statement on the ministry’s website, following an official briefing Wednesday.

A representative for Van Thinh Phat didn’t respond to an email seeking comment.

The ...