Sanctions FLC Vice President Huong Tran Kieu Dung

On April 6, the State Securities Commission issued a decision on sanctioning administrative violations in the field of securities and the stock market for Ms. Huong Tran Kieu Dung, a member of the Board of Directors of the Group Corporation. FLC group (HoSE: FLC).

The reason for the fine was that Ms. Dung was both a member of the Board of Directors at a public company and a member of the Board of Directors at more than five other companies.

Specifically, in the period from May 2020 to October 2021, Ms. Huong Tran Kieu Dung was a member of the Board of Directors of FLC Group Joint Stock Company, and at the same time a member of the Board of Directors of 6 other companies, violating regulations. in Clause 3, Article 12 of Decree No. 71/2017/ND-CP dated June 6, 2017 of the Government guiding corporate governance applicable to public companies and Clause 3, Article 275 of Decree No. 155/2020 /ND-CP dated December 31, 2020 of the Government detailing the implementation of a number of articles of the Law on Securities.

Accordingly, Ms. Huong Thi Kieu Dung was fined 70 million VND, based on the provisions of Point a, Clause 4, Article 15 of Decree No. 156/2020/ND-CP dated December 31, 2020 of the Government providing for penalties. administrative violations in the field of securities and securities market (apply the extenuating circumstance “The administrative violator has voluntarily remedied the consequences” specified in Clause 1, Article 9 of the Law on Handling of Administrative Violations) .

According to the management report of FLC Group in 2021, Ms. Dung is both Vice President at this company and holds a series of senior positions in member companies.

Ms. Dung is the Chairwoman of 7 companies, including BOS Securities, FLC Faros Construction, FLC Travel, FAM Agricultural Products Import-Export and Production, FLC Do Son Golf & Resort, Investment, Development and Management of Industrial Parks. FLC, Cemaco Vietnam. She is also a member of the Board of Directors at two companies including FLCHomes, FLC Hotel and Resort Management Company.

Huong Tran Kieu Dung was born in 1978, is the most prominent female general under the chairman of FLC Group Trinh Van Quyet. At FLC, she held the position of General Director of FLC Group from 2015 to 2017, in early 2017, she was elected as Vice Chairman of the Board of Directors of the Group and officially concurrently held the position of General Director from July 2018. In April 2021, Ms. Dung became the Permanent Vice President of FLC.

Huong Tran Kieu Dung is a Doctor of Construction Law, University of Montesquieu Bordeaux IV, France. Starting as the main lawyer of SMIC Law Firm – formerly SMiC Law Office, was established in 2001, where Mr. Trinh Van Quyet is the General Director.

With more than 10 years of experience, Ms. Dung also holds senior management and leadership positions at large-scale enterprises such as Head of Legal and Organization Department, Aid_coop Project Manager of Gret Organization (France), Managing Director of Vietnam Urban Development and Investment Joint Stock Company.

The State Securities Commission has also just issued a Decision to cancel Decision No. 34/QD-XPVPHC dated January 18 on sanctioning administrative violations against Mr. Trinh Van Quyet. The reason is that on March 29, the Investigative Police Agency – the Ministry of Public Security issued a decision to prosecute a criminal case, prosecute the accused and temporarily detained him for the crime of manipulating the stock market according to Article 211. Criminal Code.

The content of Decision 34 is an administrative fine of 1.5 billion dong and a 5-month suspension of transactions for Mr. Trinh Van Quyet for selling 74.8 million FLC shares “undercover”.

Currently, the police investigation agency of the Ministry of Public Security has also prosecuted and arrested Ms. Trinh Thi Minh Hue (an official of the Accounting Department of FLC Group) and Ms. Trinh Thi Thuy Nga (Deputy General Director, member of the Board of Directors of the Joint Stock Company). BOS securities) to clarify the role of accomplices with Mr. Quyet. Both of these people are Mr. Trinh Van Quyet’s sister.