Before the AEON and SeABank incident, a Vietnamese company had previously encountered “controversies” with foreign partners after selling a payment gateway

AEON Financial Services announced that its share transfer agreement with SeABank at PTF Finance Company is invalid due to discrepancies in previously disclosed accounting information. The agreement was initially signed in October 2023, but AEON discovered accounting issues while conducting PMI with PTF. They demanded compensation and legal accountability from SeABank. Previously, in 2017, VMG Media faced disputes with Korean investment funds over dishonesty regarding the financial situation of VNPT EPAY, resulting in a compensation ruling of over 600 billion VND. However, in a subsequent appellate decision, the Hanoi court did not recognize the prior ruling, helping the company restore its financial situation. This scenario underscores the risks associated with share transactions and the consequences of lack of transparency in financial reporting.