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Companies

Vietnam's new conglomerates in crosshairs of corruption crackdown

Arrest of developer FLC's founder highlights fraying of ties with Communist Party

FLC founder Trinh Van Quyet was arrested last month on stock manipulation charges. (Photo by Tomoya Onishi)

HANOI -- Several of Vietnam's fast-growing new conglomerates have been caught in the government's corruption dragnet, signaling a turning point for the cozy relationships with the Communist Party that helped many of these companies grow.

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