Before being arrested for manipulating the stock market, how did Mr. Trinh Van Quyet violate?
The hottest news in the first days of January is that Mr. Trinh Van Quyet, Chairman of the Board of Directors of FLC Group, silently sold nearly 75 million FLC shares on January 10, greatly affecting the market and investors. .
After the above behavior, Mr. Quyet was fined 1.5 billion VND and suspended from securities trading activities for 5 months.
Not only was he fined, but after the investigation process, the police determined that the above behavior of Mr. Trinh Van Quyet, Chairman of the Board of Directors of FLC Group Joint Stock Company, had enough elements to constitute the crime of “Manipulating the stock market”. “, specified in Article 211 of the Penal Code.
Therefore, the Investigative Police Agency of the Ministry of Public Security on March 29 issued a decision to prosecute a criminal case, decisions to prosecute the accused, and an arrest warrant for Mr. Trinh Van Quyet.
Before being arrested for manipulating the stock market, Mr. Trinh Van Quyet and FLC were repeatedly fined for their involvement in the illegal trading of shares. “Current trading” is a phrase used by investors to talk about business leaders and related people buying and selling shares without registering for trading at least 3 working days in advance as prescribed by law. the law.
Specifically, at the end of 2017, Mr. Trinh Van Quyet was once sanctioned for administrative violations by the State Securities Commission (SSC) for illegally selling 57 million FLC shares without prior notice.
Specifically, in 3 trading sessions on October 20, October 23 and October 24, 2017, the volume of FLC shares on the market increased by 2-3 times the previous trading volume. Specifically, on October 20, the total trading volume was more than 29.6 million shares (more than 8.7 million shares on October 19), on October 23 increased to more than 48 million shares and on October 24 to 25. , 5 million shares).
It is estimated that in this deal, Mr. Quyet may have collected at least 400 billion VND, the fine amount was only 65 million VND.
Also in 2017, FLC Faros Construction Joint Stock Company (ROS), chaired by Mr. Trinh Van Quyet, was also fined by SSC for illegally selling more than 13.69 million AMD (AMD Group Investment and Mineral Joint Stock Company). At that time, if ROS bought back AMD shares, it could collect more than 136 billion dong, but the penalty was only 130 million dong.
Or another “underground trading” case also related to Mr. Quyet’s FLC was on November 18, 2021, SSC fined 80 million VND for Ms. Nguyen Huong Giang (a related person of Mr. Dang Tat Thang – Deputy General Director of the Company). Director of FLC Group) for buying a total of 140,000 FLC shares in January and February 2021, and then selling 140,000 FLC shares in March 2021 but did not disclose information on expected trading.
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at Blogtuan.info – Source: Kenh14.Vn – Read the original article here
