Looking for victims who bought FLC shares when Mr. Trinh Van Quyet's group "inflated the price"

Police investigation agency searched FLC Group headquarters on the evening of March 29.

On April 21, the leader of the Office of the Ministry of Public Security's Investigation Police Agency (C01) said that the agency has just issued a notice to find victims of the "stock market manipulation" of defendant Trinh Van Quyet, Chairman of FLC Group, and other defendants.

According to the announcement, the Ministry of Public Security's Investigation Police Agency is investigating the case of "Stock market manipulation" occurring at FLC Group Corporation, BOS Securities Corporation and related companies.

According to the Investigation Agency, the defendant Trinh Van Quyet directed the vice president of FLC Group, Huong Tran Kieu Dung, and her subordinates Trinh Thi Thuy Nga, Trinh Thi Minh Hue, Nguyen Quynh Anh and some related people to lend and use opened accounts to buy/sell securities, manipulate the stock market, and push up FLC stock prices.

Specifically, FLC stock price from December 1, 2021 was "inflated" high, continuously increasing the "ceiling" from 15,500 VND/share to 24,050 VND/share on January 10, 2022. FLC stock price traded on January 10 at an average of 22,586 VND/share, an increase of 64% since Mr. Trinh Van Quyet's group started to "inflate" the price.

After the FLC stock price was inflated to an astronomical level, the group's chairman directed his relatives to sell 175 million shares. The total number of FLC shares sold by Mr. Quyet's group was 74.8 million, with an average price of VND22,500 per share. All of these shares were sold "underground" and were not announced before the transaction.

After Mr. Trinh Van Quyet's "underground" sale, FLC stock prices fell to the floor for 8 consecutive trading sessions. The investigation agency initially determined that the defendants' stock manipulation had caused serious damage to investors who bought 60.1 million FLC shares on the stock exchange on January 10, affecting the operation of the stock market.

To serve the investigation requirements, the Investigation Agency informs investors (victims) to contact the Ministry of Public Security's Investigation Police Agency (Department 4, C01) before June 15 to resolve the matter in accordance with the law.

Previously, related to this case, C01 also sent a document to localities requesting to review and provide information and documents on assets such as real estate, shares, stocks, and capital contributions in the personal names of former FLC Chairman Trinh Van Quyet and his wife, Ms. Le Thi Ngoc Diep, and two biological sisters Trinh Thi Thuy Nga and Trinh Thi Minh Hue.

The Ministry of Public Security also requested that provinces temporarily suspend transactions of transferring, buying, selling, giving, donating, pledging, mortgaging... assets such as real estate, shares, capital contributions, stocks of Mr. Quyet and the above individuals.

To date, C01 has prosecuted and temporarily detained 5 people in this case, including Mr. Trinh Van Quyet; Trinh Thi Minh Hue, former general accountant of FLC Group Joint Stock Company; Huong Tran Kieu Dung, former Chairman of the Board of Directors of BOS Securities Joint Stock Company and permanent Vice Chairman of FLC Group Joint Stock Company; Trinh Thi Thuy Nga, former member of the Board of Directors and Deputy General Director and Nguyen Quynh Anh, former General Director of BOS Securities Joint Stock Company.

The investigation agency is continuing to strengthen and clarify the wrongdoings of other related people.

According to Tuoi Tre