Urgently investigate individuals who helped Trinh Van Quyet manipulate the stock market

April 2, 2022 20:35

Authorities discovered that in the case of illegal stock sales on January 10, Mr. Trinh Van Quyet used many sophisticated tricks and tactics to create fake supply and demand, pushing up stock prices to make illegal profits.

Regarding the case of the Ministry of Public Security's Investigation Police Agency prosecuting and temporarily detaining Mr. Trinh Van Quyet on charges of stock market manipulation, the investigation agency recently provided additional information about the developments of the case.

Accordingly, responding to the press, Major General Le Van Tan, Deputy Chief of Office of the Ministry of Public Security's Investigation Police Agency, said that in January 2022, Mr. Quyet was administratively sanctioned for failing to report and disclose information before making transactions according to Decree 128/2020/ND-CP on sanctions in the securities sector.

Trinh Van Quyet

After verifying and investigating, the authorities discovered that in the case of selling shares illegally on January 10, Trinh Van Quyet had used many sophisticated tricks and tactics to create fake supply and demand, pushing up stock prices to illegally gain an amount of VND500 million or more. Therefore, the Ministry of Public Security's Investigation Police Agency prosecuted Mr. Quyet for manipulating the stock market.

“In case the competent authority has imposed an administrative penalty but later determines that the violation constitutes a crime and must be prosecuted, the investigation agency will initiate a prosecution to investigate and handle the case according to the provisions of law. Accordingly, after being prosecuted and investigated, all previous administrative penalty decisions will be invalid,” said Major General Tan.

According to the Ministry of Public Security, Trinh Van Quyet's stock market manipulation negatively impacted the market and caused great losses to investors. In addition to Mr. Quyet, the Ministry of Public Security's Investigation Police Agency is actively investigating individuals who actively assisted and facilitated the defendant's violations. The investigation agency will clarify and consider the role of each person to strictly handle them according to regulations.

According to Vietnamnet