FLC President Trinh Van Quyet was banned from leaving the country

On March 28, a representative of the Investigative Police Agency of the Ministry of Public Security said that recently there were some contents reflected about Mr. Quyet. However, the authorities have not yet applied legal measures to the related parties. According to a source, Mr. Quyet has now been “returned” by the investigating agency.

Quyet was temporarily suspended from leaving the country for a month from March 26, the representative did not have a specific answer but said “for verification”.

As planned, Mr. Quyet will attend the Vietnam Investment Forum in London on the morning of March 30 and give a concluding speech at the end of the session as Chairman of Bamboo Airways. In the afternoon of the same day, Roadshow introducing FLC’s ecosystem will also be held here. Quyet’s presence at these two events is still open.

Mr. Quyet holds a large volume of stocks and was once one of the richest people on the Vietnamese stock exchange.

This morning, from the start of the trading session, the “F family” stocks simultaneously fell in full range, with no buyers right after the negative information related to Mr. Quyet. At the end of the session, this group had a surplus of selling at the floor price of nearly 150 million shares. In which, FLC and ROS had a surplus of nearly 60 million shares each at the floor.

Mr. Quyet started his career as a lawyer when he and his associates opened a law office SMiC in 2001 and transformed into SMiC Law Firm in 2008. At the same time, he established a series of businesses. FLC brand was formed in early 2010 based on the merger of the above businesses.

In 2019, Bamboo Airways established by FLC entered the aviation market. After more than 10 years of establishment, the charter capital of FLC reached VND 10,500 billion in early 2021.

As of January 2022, FLC Chairman owns more than 215 million FLC shares (equivalent to about 30% of capital) and tens of millions of shares in member companies such as ROS, ART, BOS, GAB…

At the end of January, he was fined VND 1.5 billion and suspended trading for 5 months for “underselling” nearly 75 million FLC shares. Previously, in November 2017, he was fined 65 million dong for selling 57 million shares without reporting to the market regulator.

Pham Du – Anh Tu