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The investigation agency determined that the Deputy General Director of FLC Faros helped Mr. Trinh Van Quyet inflate the company's capital from 1.5 billion VND to 4,300 billion VND.
Defendant Nguyen Thien Phu - Photo: Ministry of Public Security
On the evening of September 12, Lieutenant General To An Xo - Chief of Office and Spokesperson of the Ministry of Public Security - said that the Investigation Police Agency (C01) had issued a decision to prosecute the accused and carry out the order for temporary detention.Mr. Nguyen Thien Phu- Deputy General Director of FLC Faros Construction Joint Stock Company, chief accountant of this company from 2015 - 2016.
Mr. Phu is being investigated for fraud and property appropriation.
On the same day, the Supreme People's Procuracy approved the above decisions and orders. The investigation agency also searched the residence and workplace of the accused Phu.
Initial investigation results determined that during his time as chief accountant, Phu assisted Trinh Van Quyet (former chairman of FLC Group) in fraud and property appropriation.
Specifically, the defendants increased the charter capital from 1.5 billion VND to 4,300 billion VND, equivalent to 430 million shares of Faros Construction Joint Stock Company.
When the company listed 430 million shares with the code ROS on the stock exchange, the former Chairman of FLC sold all the shares, embezzling investors' money.
As of February 24, 2021, defendant Trinh Van Quyet directed Trinh Thi Minh Hue to sell all ROS shares under his name and the names of 5 other individuals, earning more than 6,400 billion VND. Trinh Van Quyet withdrew cash from the sale of shares to appropriate.
Previously, the investigation agency had initiated additional criminal proceedings, initiating additional prosecution against Trinh Van Quyet and related individuals for the crime of "fraudulent appropriation of property" occurring at FLC Faros Construction Joint Stock Company and related companies.
Ms. Huong Tran Kieu Dung (former Vice President of FLC Group) and Mr. Quyet's two sisters, Trinh Thi Thuy Nga and Trinh Thi Minh Hue, were also additionally prosecuted for the same crime.
Previously, on March 29, C01 issued a decision to prosecute the case, prosecute the accused, and execute an order to temporarily detain Mr. Trinh Van Quyet to investigate the crime of stock market manipulation. The initial investigation results have clarified many violations of Mr. Quyet related to "inflating" stock prices for the purpose of illegal profit. The total amount of money that defendant Quyet earned after illegally selling stocks was nearly 1,700 billion VND, the purpose of illegal profit was more than 530 billion VND. |
According to Tuoi Tre
