Forcibly seized 6.2 million CCL shares of 'petroleum tycoon' Trinh Suong

Ho Chi Minh City Stock Exchange (HoSE) has just announced information about the enforcement of judgment on CCL shares of Cuu Long Petroleum Urban Development and Investment Joint Stock Company owned by Mr. Trinh Suong - a major shareholder owning over 5% of the company's shares.

Accordingly, the execution time is March 7 and the enforcement unit is the District 1 Civil Judgment Enforcement Office.

The enforcement measure is to seize and handle assets including 6.27 million CCL shares in securities trading account number 021C999888, opened at VNDIRECT Securities Joint Stock Company.

On the stock market, CCL is currently priced at VND9,100/share. With this price, the value of the above-mentioned seized shares is approximately over VND57 billion.

Mr. Trinh Suong is known as a "gasoline tycoon" as he owns many gas stations scattered along the roads in Soc Trang.

However, in 2019, Mr. Trinh Suong was arrested for violations in the production and trading of counterfeit goods.

By the end of 2021, Mr. Trinh Suong was sentenced to 12 years in prison and fined an additional 100 million VND by the Dak Nong Provincial People's Court. The first-instance panel affirmed that Mr. Trinh Suong produced more than 192 million liters of fake gasoline, sold more than 188 million liters to the market, and illegally profited more than 151 billion VND.

(Source: Nguoi Lao Dong)

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