Prosecution of former FLC General Director and 21 people who helped Mr. Trinh Van Quyet commit fraud

On January 31, information from the Ministry of Public Security said that the Ministry of Public Security's Investigation Police Agency issued additional decisions to prosecute, arrest and detain 22 defendants in the case of "Fraudulent appropriation of property" related to Mr. Trinh Van Quyet (former Chairman of the Board of Directors of FLC Group Corporation).

Among these defendants, there are many former leaders of FLC Group who were once subordinates of Trinh Van Quyet, including: Doan Van Phuong (former General Director of FLC Group, Chairman of the Board of Directors of Faros Construction Joint Stock Company); Trinh Van Dai (former Chairman of the Board of Directors, Deputy General Director of Faros Construction Joint Stock Company); Do Nhu Tuan (former General Director of Faros Construction Joint Stock Company); Nguyen Van Manh (former member of the Board of Directors of Faros Construction Joint Stock Company, brother-in-law of Trinh Van Quyet);

Dam Mai Huong (former Chief Accountant of Faros Construction Joint Stock Company); Nguyen Van Thanh (former Head of the Board of Supervisors of Faros Construction Joint Stock Company); Hoang Thi Thu Ha (Accountant of FLC Land LLC); Tran The Anh (Deputy General Director of FLC Group); Do Quang Lam (former General Director of Faros Construction Joint Stock Company); Nguyen Thanh Binh (former Deputy General Director of FLC Group, Chairman of the Board of Directors of RTS Company);

Le Thanh Vinh (former Chairman of the Board of Directors of Faros Construction Joint Stock Company); Nguyen Tien Dung (former General Director of Faros Construction Joint Stock Company); Le Tan Son (former Deputy Chief of Office, Secretary of the Board of Directors of FLC Group); Trinh Tuan (former Head of Materials Department of FLC Land LLC); Dang Thi Hong (former Deputy Head of Legal Department, FLC Group Joint Stock Company);

Le Van Sac (Chairman of the Board of Directors of Alaska Real Estate Investment Joint Stock Company and Director of FLC Land LLC); Truong Van Tai (Office staff of FLC Group Joint Stock Company, driver for Trinh Van Quyet); Nguyen Binh Phuong (former Chairman of the Board of Directors of FLC Faros Construction Joint Stock Company); Nguyen Minh Diem (former administrative and human resources staff of BOS Securities Joint Stock Company);

Nguyen Thi Hong Dung (sister of Nguyen Van Manh, brother-in-law of Trinh Van Quyet); Nguyen Ngoc Tinh (Chairman of the Board of Members, former General Director of Hanoi Auditing and Accounting Company Limited); Le Van Tuan (Auditor of Hanoi Auditing and Accounting Company Limited) are also among the prosecuted subjects.

The Ministry of Public Security's Investigation Police Agency is investigating the case of "Stock market manipulation" and "Fraudulent appropriation of property" occurring at FLC Group Corporation, BOS Securities Corporation, FLC Faros Construction Corporation and related companies.

Up to now, the police have investigated and clarified the violations of 22 subjects who were former leaders of Faros Construction Joint Stock Company, companies under FLC Group, Auditing Company and relatives of Trinh Van Quyet who acted as accomplices, actively assisting Mr. Quyet in "fraudulently appropriating property".

The Ministry of Public Security's Investigation Police Agency determined that these subjects assisted Trinh Van Quyet by artificially increasing the charter capital of FLC Faros Construction Joint Stock Company from VND1.5 billion to VND4,300 billion, equivalent to 430 million shares, listed on the HOSE stock exchange, and selling to appropriate investors' money.

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