Banking tycoon Nguyen Duc Kien, whose arrest sent shockwaves across the country last month, has been acquitted of two more charges, the Ministry of Public Security Tuesday announced on Tuesday.

>> How did Nguyen Duc Kien get rich with fake projects?

His new charges are “intentionally violating State regulations on economic management, causing serious consequences” and “Cheating to misappropriate other people's assets”, according to a statement by the Ministry.

Police also announced that the director and chief accountant of the ACB Hanoi Investment Joint Stock Company, an investment company also owned by Kien, have been detained and charged for their involvement in Kien’s crimes.

The multi-millionaire Kien is co-founder of Asia Commercial Joint Stock Bank (ACB), one of Vietnam’s largest banks. He is currently one of the 20 richest persons in Vietnam based on stock reports.

The 48-year-old man is also deputy chairman of the Vietnam Professional Football Joint Stock Co (VPF) and chairman of Hanoi Football Club.

He is also a founding shareholder in several other commercial banks such as Kien Long Commercial Joint Stock Bank and the Vietnam Export-Import Commercial Joint Stock Bank.

Besides being a banking tycoon, Kien is well-known as a football manager and a philanthropist.

Previously, on August 24, Ly Xuan Hai, ACB’s ex-general director, has been detained and charged with "intentionally violating State regulations on economic management, causing serious consequences".