Former FLC Group Chairman Trinh Van Quyet and his sister plead guilty

On the morning of July 23, the FLC trial continued with the interrogation. The Trial Panel (TAC) brought former Chairman of FLC Group Trinh Van Quyet into the courtroom to take his testimony. Previously, during the interrogation of other defendants, Mr. Quyet was isolated.

Responding to questioning in court, defendant Trinh Van Quyet admitted all the acts charged in the indictment, had no opinion on the charges and said he would accept the court's verdict.

In response to the panel of judges' questions about the crimes, the amount of illegal profits, etc., defendant Trinh Van Quyet repeatedly repeated: What the indictment describes is the true nature of the defendant's crimes.

Responding to the jury's questioning about the purpose of the crime, defendant Quyet stated: The defendant never intended to appropriate investors' money.

The intention of acquiring the company was to exploit the construction sector, to be proactive in investment and construction activities of the entire FLC Group system. And then to expand and implement projects outside the scope of the Group. Before being arrested, the defendant had done that.

Defendant Trinh Van Quyet stated that the above statement was completely voluntary and he had no opinion on the statements of the other defendants.

According to the accusation, Mr. Trinh Van Quyet was the mastermind, deciding to direct the purchase of Faros Company; deciding and directing the contribution of fictitious capital, using fictitious capital to legalize the increase and use of fictitious capital of Faros Company from 1.5 billion VND to 4,300 billion VND; registering as a public company, registering securities and listing shares on the HOSE, selling more than 391 million ROS shares formed from fictitious capital contributions to 30,403 investors, appropriating more than 3,621 billion VND.

Mr. Quyet was also the mastermind, decision maker, and director of the opening, management, and use of securities accounts; decided and directed the provision of fake money to accounts managed by the defendant Trinh Thi Minh Hue (FLC Group accountant, Mr. Quyet's sister) to manipulate 5 stock codes, illegally profiting more than 723 billion VND. Of which, the defendant must bear criminal responsibility for 4 stock codes, illegally profiting more than 684 billion VND.

For his part, defendant Trinh Minh Hue stated that all of his actions were done under the direction of his brother. The defendant also admitted all the contents as described in the indictment.

Regarding the capital increase of Faros Company from 1.5 billion VND to 4,300 billion VND, defendant Hue said: Defendant Quyet told him to withdraw money from the bank and then deposit it into the company to increase capital. The defendant maintained his statements during the investigation.

Defendant Hue also stated that he did not benefit from the criminal acts under his brother's direction.