Rumors of being arrested, Mr. Trinh Van Quyet said ‘just let it go’

On March 28, a source from PV Tien Phong said that the investigating agency of the Ministry of Public Security had just issued a decision to suspend the exit of Mr. Trinh Van Quyet, Chairman of the Board of Directors of FLC Group Joint Stock Company to clarify a situation. number of content related to this man. As for the information spread about Mr. Quyet’s arrest, it’s just fake news, not accurate.

The investigative agency temporarily postponed the exit of Mr. Trinh Van Quyet from March 26 to the end of April 25, and invited him to work and verify some contents. It is known that the investigative agency is verifying some information from the press previously mentioned about businesses and projects founded and operated by Mr. Trinh Van Quyet.

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

Mr. Trinh Van Quyet

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 1.5 billion dong 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.

Negative rumors related to Mr. Trinh Van Quyet spreading on social networks since the evening of March 27 were reflected in the first trading session of the week. FLC “family” stock was on the floor right from the opening time, investors sold out massively, at the end of the session there were still hundreds of millions of surplus shares sold at the floor price. FLC market capitalization evaporated 710 billion dong, down from 10,365 billion dong, to 9,655 billion dong. The liquidity of this group dropped sharply, the buyers’ white stocks led to a sharp drop in many real estate codes. Closing, VN-Index dropped more than 15 points (1.02%) to 1,483 points while HoSE matched value increased by nearly 35% compared to the previous session, reaching 30,491 billion dong.

Talking to PV Tien Phong, securities expert Nguyen Hong Diep said that rumors are very normal in the stock market. Experience has shown that, if the rumor is not true, the story will be completely over in 1.5 sessions. In case the incident is real, the group of stocks directly related to the incident will fall deeply and for a long time. In any case, around 1,450 points is the bottom area of ​​VN-Index.

According to Minh Duc-Ngoc Mai-Viet Linh