Mr. Trinh Van Quyet authorized Ms. Vu Dang Hai Yen to operate FLC Group.

Ms. Vu Dang Hai Yen, Deputy General Director of FLC Group - Photo: flc.vn

Immediately after the Ministry of Public Security decided to prosecute and temporarily detain Mr. Trinh Van Quyet, Chairman of the Board of Directors of FLC Group Corporation, on the evening of March 29, FLC Group issued an official announcement regarding the matter.

Specifically, according to FLC Group Corporation, the incident is related to Mr. Trinh Van Quyet's recent securities transactions and is still under initial investigation, with no official conclusion yet.

Mr. Quyet has been and is continuing to coordinate with the authorities in the investigation process to clarify related issues.

FLC Group Corporation is not a related entity or has any activities related to this incident.

Accordingly, the incident does not affect or change FLC's important orientations in production, investment, business activities as well as sustainable development in the coming time. At the same time, it does not affect the rights and legitimate interests of customers, shareholders as well as partners who are transacting and cooperating with FLC.

To limit any risks that may arise and ensure the regular operations of FLC, Mr. Trinh Van Quyet has authorized Ms. Vu Dang Hai Yen, Deputy General Director of FLC Group.

Accordingly, Ms. Vu Dang Hai Yen will represent and represent Mr. Trinh Van Quyet to perform the tasks and rights of the Chairman of the Board of Directors of FLC Group Corporation, Chairman of the Board of Directors of Tre Viet Aviation Corporation, as well as all shareholder rights at the two above-mentioned enterprises in accordance with the law and the company's charter.

At the same time, Mr. Trinh Van Quyet also authorized Ms. Vu Dang Hai Yen all rights related to the assets and property rights under his ownership.

In addition to this decision, FLC's board of directors also met and quickly put forth measures and plans to ensure FLC's business operations are stable in the new situation, in accordance with the goals and plans set by the Board of Directors and the Board of General Directors.

With about 300 projects being researched for investment and legal promotion in more than 40 provinces and cities nationwide, FLC aims to complete legal procedures to continue implementing a series of projects in 2022.

Previously, the Ministry of Public Security's Investigation Police Agency (C01) investigated and verified with Mr. Trinh Van Quyet and individuals of FLC Group Corporation, BOS Securities Corporation and related companies about the acts of "manipulating the stock market" and "concealing information in securities activities" that occurred on January 10, causing serious damage to investors and affecting the activities of the Vietnamese stock market.

The above behavior of the Chairman of FLC Group is sufficient to constitute the crime of "manipulating the stock market", stipulated in Article 211 of the Penal Code.

Initially, on March 29, the Ministry of Public Security's Investigation Police Agency issued a decision to initiate criminal proceedings, decisions to prosecute the accused, and an order to temporarily detain Mr. Trinh Van Quyet. At the same time, it organized searches of the residences and workplaces at 21 locations for related subjects.

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

According to Tuoi Tre