Trinh Van Quyet manipulated the price of 6 FLC stock codes, making an illegal profit of 975 billion dong
On the afternoon of June 4, at the regular Government press conference, Lieutenant General To An Xo, Chief of the Office of the Ministry of Public Security, provided more information about a number of cases of public interest such as FLC, Viet A…
Regarding the case at FLC Group, according to the initial investigation results, from September 1 to January 10, 2019, Trinh Van Quyet directed Trinh Thi Minh Hue to borrow the identity cards of 26 individuals who established 20 enterprises, opened 450 accounts at 41 securities companies to perform stock price manipulation actions to create fake supply and demand with 6 FLC stocks and gain illicit profits, according to the original estimate of 975 billions dong. This has taken a particularly large toll on investors.
Currently, the Investigation Police Agency of the Ministry of Public Security has received 557 applications from investors accusing Trinh Van Quyet and his accomplices of manipulating the stock market.
Regarding the Viet A case, Lieutenant General To An Xo said: “The Viet A case is a lot of money. In the testimony, it is about making a profit of about 4,000 billion and lubricating about 800 billion, which is a channel for investigators to find out.”
Chief of Office of the Ministry of Public Security emphasized that the accused in these cases are characterized by many of them being officials, party members and leaders. These defendants commit crimes by taking advantage of policies for self-seeking purposes, taking advantage of positions and powers when performing official duties, and violating regulations of the head such as bribery and accepting bribes. The accused who are cadres and party members will first be handled according to the party’s regulations, and then will be handled according to the provisions of law.
Regarding the rescue flight incident, according to investigators, for example, a “combo” flight (with a fee) to rescue, minus the expenses, the profit amount can be up to several billion dong a trip. which has nearly 2,000 flights.
“According to the direction of the Central Steering Committee on anti-corruption and anti-corruption, the police force is also focusing on trying to get results soon,” said Lieutenant General To An Xo.
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