Vietnam’s top soft drinks tycoon was jailed for eight years on Thursday in a $40 million fraud case — the latest high-profile business figure snared in the country’s sweeping crackdown on corruption.

The communist nation’s wide-ranging campaign to wipe out endemic graft has seen more than 4,400 people charged with criminal offences, including officials and senior business figures.

A court in Ho Chi Minh City found Tran Qui Thanh and his two daughters guilty of scamming investors over loans issued in 2019 and 2020.

Thanh, the 71-year-old chairman of beverage group Tan Hiep Phat, was ruled to have masterminded scams to appropriate assets put up as collateral against loans, state media reported.