Vietnam’s prominent soft drinks tycoon, Tran Qui Thanh, was sentenced to eight years in prison on Thursday for scamming investors over loans issued in 2019 and 2020. This case is part of a broader anti-corruption campaign that has led to over 4,400 criminal charges against officials and business leaders.

The Ho Chi Minh City court found Thanh, chairman of beverage giant Tan Hiep Phat, guilty of masterminding a scheme to appropriate assets used as loan collateral. Despite borrowers repaying the loans with interest, Thanh withheld the assets, citing breaches in contracts. His daughters, Tran Uyen Phuong, deputy CEO, and Tran Ngoc Bich, received four years in jail and a suspended three-year sentence, respectively.

Tan Hiep Phat, known for its bottled tea and energy drinks, is one of Vietnam’s largest beverage companies. In court, Thanh expressed regret and asked for leniency, hoping to return to society and continue his work.

This case follows other high-profile convictions, including property tycoon Truong My Lan, sentenced to death for a $27 billion fraud, and Do Anh Dung, who received an eight-year sentence for a $355 million bond scam.