Trinh Van Quyet was arrested: Searching 21 locations related to the President of FLC
After the decision to prosecute and detain Mr. Trinh Van Quyet, the Police Department of the Ministry of Public Security also searched the residences and workplaces at 21 locations for the subjects involved.
On the afternoon of March 29, Lieutenant General To An Xo, Chief of Office cum Spokesperson of the Ministry of Public Security confirmed to VietNamNet, grandfather Trinh Van Quyet (47 years old, hometown Vinh Phuc), Chairman of the Board of Directors of FLC Group Joint Stock Company was prosecuted and detained for investigation of stock market manipulation.
“Investigative agencies searched the residences and workplaces at 21 locations for the subjects involved“, Lieutenant General To An Xo said.
As recorded by Tuoi Tre Online at 18:30, the police force is present at the headquarters of FLC Group – Photo: CHI TUE
According to Lieutenant General Xo, the Investigative Police Agency of the Ministry of Public Security (C01) conducted an investigation and verified with Mr. Trinh Van Quyet and individuals of the FLC Group Joint Stock Company, BOS Securities Joint Stock Company and other individuals. related companies about the act of “manipulating the stock market”, “hiding information in securities activities” that occurred on January 10, causing serious damage to investors, affecting the operation of securities companies. of the Vietnamese stock market.
The above behavior of Mr. Trinh Van Quyet has enough elements to constitute the crime of “manipulating the stock market”, specified in Article 211 of the Penal Code.
From the above grounds, on March 29, the Investigative Police Agency of the Ministry of Public Security issued a decision to prosecute a criminal case, decisions to prosecute the accused, and an arrest warrant for Mr. Trinh Van Quyet.
Specifically, the verified acts include: Manipulating the stock market; Concealing information in securities activities occurred on January 10, 2022. The violations “caused serious damage to investors and affected the operation of Vietnam’s stock market”, according to Lieutenant General Xo.
Chairman of FLC Group Trinh Van Quyet. Photo: Workers
In early 2022, Mr. Trinh Van Quyet attracted attention when he suddenly registered to sell 175 million FLC shares from January 10, 2022. Accordingly, Mr. Quyet registered to sell 175 million shares, the expected transaction value at par value is 1,750 billion VND. The expected transaction time is from January 10 to 1751. The purpose stated by Mr. Quyet is the asset structure.
Method of transaction agreement or order matching. Before the transaction, Mr. Quyet held 215 million FLC shares, equivalent to 30.34% of the company’s charter capital.
On January 11, the Ho Chi Minh City Stock Exchange. Ho Chi Minh City Stock Exchange (HoSE) announced to cancel the sale of 74.8 million FLC shares on January 10 under the direction of the State Securities Commission. The reason for the cancellation of the transaction was because the Chairman of the Board of Directors of FLC Group Trinh Van Quyet did not report or disclose information before the transaction.
On January 18, the State Securities Commission fined Mr. Quyet 1.5 billion dong and suspended his securities trading activities for 5 months.
Before the “underground sale”, Mr. Trinh Van Quyet was the largest shareholder owning 215.4 million FLC shares, equivalent to 30.34% of the group’s capital. After canceling the transaction, Mr. Quyet’s ownership ratio in FLC remained unchanged. However, this incident also caused some psychological impacts on securities investors, leading to “FLC” stocks being sold by many investors, falling in price, and losing liquidity. This is the second time the FLC president has received a fine from the State Securities Commission. Previously, in November 2017, Mr. Quyet was fined 65 million VND for selling 57 million FLC shares but did not report to the market regulator. Also in 2017, FLC Faros Construction JSC (ROS), chaired by Mr. Trinh Van Quyet, was also fined for illegally selling more than 13.69 million AMD (AMD Group Investment and Mineral JSC). 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. |
MT (t/h)
According to Vietnamnet
at Blogtuan.info – Source: 2sao.vn – Read the original article here
