Prosecution of 22 more accomplices who helped Trinh Van Quyet manipulate the stock market

On January 31, the Ministry of Public Security's Investigation Police Agency issued additional decisions to prosecute, arrest, and ban 22 defendants from leaving their place of residence in the case of fraud and appropriation occurring at FLC Group Joint Stock Company, BOS Securities Joint Stock Company, FLC Faros Construction Joint Stock Company (Faros Company) and related companies.

According to the Ministry of Public Security, the investigation results so far have clarified the violations of 22 former leaders of Faros Construction Joint Stock Company, companies under FLC Group, the Auditing Company and relatives of Trinh Van Quyet who acted as accomplices, actively assisting Trinh Van Quyet in defrauding and appropriating property.

These people assisted Trinh Van Quyet in approving the increase in charter capital of Faros Company from 1.5 billion VND to 4,300 billion VND corresponding to 430 million shares, listed on the HOSE stock exchange, and sold to appropriate investors' money.

Many former leaders of FLC Group who were once subordinates of Trinh Van Quyet were prosecuted, including: Doan Van Phuong, former General Director of FLC Group, Chairman of the Board of Directors of Faros Company; Tran The Anh, Deputy General Director of FLC Group; Nguyen Thanh Binh, former Deputy General Director of FLC Group, Chairman of the Board of Directors of RTS Company; Le Tan Son, former Deputy Chief of Office, Secretary of the Board of Directors of FLC Group; Dang Thi Hong, former Deputy Head of the Legal Department...

Some leaders of subsidiaries of the FLC ecosystem who were prosecuted are Trinh Van Dai, former Chairman of the Board of Directors, Deputy General Director of Faros Company; Do Nhu Tuan, former General Director of Faros Company; Do Quang Lam, former General Director of Faros Company; Le Thanh Vinh, former Chairman of the Board of Directors of Faros Company; Nguyen Tien Dung, former General Director of Faros Company...

The investigation agency also prosecuted some relatives of Mr. Trinh Van Quyet, including Nguyen Van Manh, former member of the Board of Directors of Faros Company (Mr. Quyet's brother-in-law); Nguyen Thi Hong Dung (sister of Nguyen Van Manh, brother-in-law of Trinh Van Quyet); Truong Van Tai, office employee of FLC Group (driver for Trinh Van Quyet)...

The decisions and prosecution orders of the Ministry of Public Security's Investigation Police Department have been approved by the Supreme People's Procuracy in accordance with the law.

Previously, in early January 2024, the Supreme People's Procuracy returned the file requesting additional investigation into the case of FLC Group Chairman Trinh Van Quyet and his accomplices for the crimes of "manipulating the stock market" and "fraudulent appropriation of property".