FLC President Trinh Van Quyet can face the maximum sentence of 7 years in prison?
Why are administrative sanctions still subject to criminal prosecution?
Dr. Lawyer Dang Van Cuong (Hanoi Bar Association) said, first of all, it must be acknowledged that Mr. Trinh Van Quyet is one of the young, successful entrepreneurs with many achievements in business activities.
However, recently, the authorities determined that Mr. Quyet had sold shares but did not notify in accordance with the law and was administratively sanctioned for this act.
The fact that Mr. Quyet was prosecuted and arrested for manipulating the stock market was quite surprising to many people because Mr. Quyet had previously been administratively sanctioned.
Previously, Mr. Quyet was fined 1.5 billion VND for illegally selling shares.
In principle, an act of breaking the law is only handled once. If the violation is already administratively sanctioned, it will not be examined for penal liability.
In case of criminal handling, the decision on sanctioning of administrative violations must be annulled.
Therefore, in this case, the investigating agency will clarify which behavior of Mr. Quyet’s violation is, whether this behavior has been handled by any competent agency or not.
In case the act has already been administratively sanctioned but the competent authority determines that the administrative sanction is incorrect, the act shows signs of constituting a crime, the administrative sanctioning decision must be annulled before prosecution. criminal case.
The police agency searched the house of Mr. Trinh Van Quyet on the evening of March 29
The stock market is a place to buy and sell securities, is a business investment field of many people, brings a great source of income, stimulates the development of businesses, contributes to the development of the economy.
For those who are not interested in business, securities do not understand much about this field. However, for stock investors, they are very interested in and closely monitor market information.
The maximum penalty is up to 7 years in prison
Lawyer Cuong said that the State manages the stock market by law, stock market participants must comply with the law provisions on listing, buying, selling and conducting investment activities. other.
In fact, there are influential people in the stock market. They hold many shares and are reputable, so their purchases have a great influence on the operation of the market.
In order to avoid these people manipulating the stock market, the law has regulations to manage this market, creating transparency, fairness and equality in the market.
Lawyer Dang Van Cuong.
Therefore, illegal acts in the stock market can negatively affect the market, infringe on the legitimate rights and interests of investors, and affect state management.
In case the act of manipulating the stock market results in illegal profits of 500 million VND or more or causing damage to investors from 1 billion VND or more, the violator will be examined for penal liability according to Article 211. penal code.
Specifically, crimes and penalties are prescribed by the 2015 Penal Code (amended and supplemented in 2017) as follows:
Article 211. Crime of manipulating the stock market
1. Those who commit one of the following acts to gain illicit profits of between VND 500 million and under VND 1.5 billion or cause damage to investors from VND 1 billion to under VND 3 billion, shall be subject to a fine of between VND 500 million and VND 500 million. million VND to 2 billion VND or imprisonment from 6 months to 3 years:
a) Using one or more trading accounts of their own or of others or colluding with each other to continuously buy and sell securities in order to create artificial supply and demand;
b) Colluding with other people to place orders to buy and sell the same type of securities on the same trading day or colluding with each other to trade securities without leading to the actual transfer of ownership or the ownership to only rotate. between group members to create securities prices, artificial supply and demand;
c) Continuously buying or selling securities with a dominant volume at the time of opening or closing the market in order to create a new closing or opening price for that type of security on the market;
d) Trading securities in the form of colluding, enticing other people to continuously place buy and sell orders for securities, greatly affecting supply and demand and securities prices, manipulating securities prices;
dd) Giving opinions directly or indirectly through the mass media about a type of security, about the securities issuer in order to influence the price of that type of security after making the decision. trading and holding positions in such securities;
e) Using methods or performing other trading behaviors to create artificial supply and demand, and manipulate securities prices.
2. Committing the crime in one of the following circumstances, the offenders shall be subject to a fine of between VND 2 billion and VND 4 billion or a prison term of between 2 and 7 years: Organized; Gaining illegal profits of 1.5 billion VND or more; Causing damage to investors 3 billion or more…
3. Offenders may also be subject to a fine of between VND 50 million and VND 250 million, a ban from holding certain posts, practicing certain professions or doing certain jobs for one to five years.
at Blogtuan.info – Source: Kenh14.Vn – Read the original article here
