Who helps Mr. Trinh Van Quyet to manipulate the stock market?

On the afternoon of March 29, the Ministry of Public Security issued a notice that the Investigative Police Agency of the Ministry of Public Security (C01) had served the decisions to prosecute the case, prosecute the accused, and execute the arrest warrant for the suspect. with him Trinh Van QuyetChairman of the Board of Directors of FLC Group Joint Stock Company to investigate the crime of “Stock market manipulation”, specified in Article 211 of the Penal Code.

A large number of police were mobilized to ensure security and order at FLC headquarters – 265 Cau Giay, Hanoi on the evening of March 29. Photo: Le Duong

Around 6:15 p.m. on the same day, the Police Department of the Ministry of Public Security also divided into several sections to execute a search warrant at Mr. Quyet’s workplace at the headquarters of FLC Group, address 265 Cau Giay, and Mr. Quyet’s house in the My Urban Area. Communal House 2, My Dinh 2 Ward, Nam Tu Liem District, Hanoi.

Still according to information from the Ministry of Public Security, the traffic police have organized a search of the residences and workplaces at 21 locations for the subjects related to the above case.

Police work at FLC headquarters on the evening of March 29. Photo: CAND

Previously, right after Mr. Trinh Van Quyet “under-sold” 74.8 million FLC shares in the trading session on January 10, 2022, the CQDT immediately investigated and verified Trinh Van Quyet and other members of the FLC Group. individuals under FLC Group Joint Stock Company, BOS Securities Joint Stock Company and related companies for the behavior of “Manipulating the stock market”, “Hiding information in securities activities”.

Quyet’s above behavior has caused serious damage to investors, affected the operation of Vietnam’s stock market and has enough elements to constitute the crime of “stock market manipulation”.

According to initial information, from December 1, 2021 to January 10, 2022, Mr. Trinh Van Quyet directed individuals with family or close relationships to run the staff of BOS Securities Joint Stock Company (BOS Securities JSC). CK BOS Company) and its subsidiaries and satellite companies used 20 securities accounts of 11 organizations to collude to buy and sell securities with high frequency, in order to create artificial supply and demand.

The above accounts participated in 28/28 trading sessions, buying orders accounted for 12% of total order volume and matched buying 2.84% of total market matching volume; Sell ​​orders accounted for 7% of total sell orders and sell orders accounted for 12% of total market sell orders.

In the bullish sessions, the group of 21 securities accounts bought with a total volume of 77% of the group’s total order volume. In the down sessions, the group placed sell orders with a total volume of 94% of the group’s total sell volume.

The purpose is to push the price of FLC securities from 14,650 VND/share on December 1, 2021 to 24,050 VND/share (up 64%).

Trinh Van Quyet then assigned his family members to place an order to sell 175 million FLC shares and matched the order to sell 74.8 million FLC shares at the price of 22,586 VND/share but did not disclose information before delivery. securities transactions, with the amount of VND 1,689 billion, illegally profiting an amount of about VND 530 billion.