Regarding the case of former FLC Group Chairman Trinh Van Quyet manipulating the stock market, on June 23, C01 issued a decision to prosecute 15 defendants for the crime of "manipulating the stock market".
Among the defendants, there are 2 people from FLC Group: Do Thi Huyen Trang, Deputy Head of Accounting Department, and Nguyen Thi Nga, an employee of the accounting department. 5 people from BOS Securities JSC: Nguyen Thi Thanh Phuong, Head of Securities Services Department; Nguyen Thi Thu Thom, former Deputy Head of Securities Services Department; Bui Ngoc Tu, Deputy Head of Securities Services Department; Tran Thi Lan and Quach Thi Xuan Thu are 2 chief accountants.
The Investigation Police Agency searched FLC headquarters on the evening of March 29, 2022.
The remaining defendants are leaders and employees of FLC's subsidiaries, including: Trinh Van Dai, Deputy General Director of FLC Faros Construction Joint Stock Company; Trinh Thi Thanh Huyen, employee of FLC Homes Company; Trinh Tuan, Head of Materials Department of FLC Land Company; Hoang Thi Hue, former employee of FLC Digital Trading and Services Joint Stock Company; Trinh Van Nam, former employee of Tre Viet Aviation Joint Stock Company; Nguyen Van Manh, employee of Materials Department of FLC Land LLC; Nguyen Quang Trung, driver of Ha Thanh General Hospital, and Nguyen Thi Hong Dung, residing in Cau Giay District (Hanoi).
The decision to prosecute the above 15 defendants has been approved by the Supreme People's Procuracy. During the investigation, the defendants were released on bail and prohibited from leaving their place of residence.
In this case, Mr. Trinh Van Quyet and his two younger sisters, Ms. Trinh Thi Thuy Nga, Trinh Thi Minh Hue and Ms. Huong Tran Kieu Dung, Permanent Vice Chairwoman of the Board of Directors of FLC Group; Nguyen Quynh Anh, General Director of BOS Securities Joint Stock Company, were prosecuted and temporarily detained for the crimes of "manipulating the stock market" and "fraudulent appropriation of property".
Mr. Nguyen Thien Phu, Deputy General Director and Chief Accountant of FLC Faros Construction Joint Stock Company, was prosecuted and temporarily detained to investigate the crime of "fraudulent appropriation of property".
Mr. Trinh Van Quyet, former Chairman of FLC Group
According to the initial investigation results, from December 1, 2021 to January 10, 2022, Mr. Trinh Van Quyet directed his two younger sisters and several others to use opened accounts to buy and sell securities, performing market manipulation, pushing the price of FLC shares to the highest, from VND 15,500 to VND 24,050, an increase of 64%.
By January 10, 2022, Mr. Quyet directed the sale of more than 76.7 million FLC shares and matched 74.8 million with an average price of VND 22,586/share but did not disclose information before the transaction. The total amount of money Mr. Quyet collected after illegally selling shares was VND 1,689 billion, accounting for 55.42% of the total matched volume of the whole market, accounting for 10.54% of the total circulating volume of FLC shares.
In addition, the investigation agency accused Mr. Quyet of appropriating money from investors from 2014 to 2016 when carrying out procedures to increase the charter capital from 1.5 billion VND to 4,300 billion VND, equivalent to 430 million shares of Faros Construction Joint Stock Company (stock code ROS) and listing 430 million ROS shares on the stock exchange.
Then, Mr. Quyet directed Ms. Trinh Thi Minh Hue to sell all ROS shares under the name of Trinh Van Quyet and ROS shares under the names of 5 other individuals (named by Mr. Quyet), collecting more than 6,412 billion VND and withdrawing cash to appropriate.
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