On October 28, the Ministry of Public Security issued information stating that the Office of the Investigation Police Agency (IPA) of the Ministry of Public Security announced the results of the investigation and handling of the criminal case on the crime of "Stock market manipulation and Fraudulent appropriation of property" occurring at FLC Group Corporation, BOS Securities Corporation, Faros Construction Corporation and related companies, carried out by Trinh Van Quyet, former Chairman of the Board of Directors of FLC Group Corporation and his accomplices.
According to the Ministry of Public Security, the investigation process so far has sufficient grounds to determine the following contents:
Firstly: From May 26, 2017 to January 10, 2022, Trinh Van Quyet, Chairman of FLC Group, directed Trinh Thi Minh Hue (Quyet's sister) and her accomplices to manipulate the stock market for 5 stock codes AMD, HAI, GAB, FLC, ART, illegally profiting more than 723 billion VND.
The Ministry of Public Security's Investigation Police Agency has clarified the criminal acts and issued a decision to prosecute 20 defendants, including: Trinh Van Quyet, Trinh Thi Minh Hue, Trinh Thi Thuy Nga, Huong Tran Kieu Dung, Nguyen Quynh Anh, Nguyen Thi Thanh Phuong, Nguyen Thi Thu Thom, Bui Ngoc Tu, Tran Thi Lan, Quach Thi Xuan Thu, Trinh Van Dai, Nguyen Van Manh, Trinh Van Nam, Nguyen Quang Trung, Nguyen Thi Hong Dung, Trinh Thi Thanh Huyen, Trinh Tuan, Nguyen Thi Nga, Hoang Thi Hue, Do Thi Huyen Trang for the crime of "Stock market manipulation" under Clause 2, Article 211 of the 2015 Penal Code.
Second: During the period from 2014 to 2016, in reality, shareholders only contributed more than VND 1,197 billion in charter capital to Faros Construction Joint Stock Company, but with the purpose of appropriating investors' money on the stock market; from 2014 to September 2016, Trinh Van Quyet directed his subordinates and related individuals to create and sign fake documents and capital contribution documents of more than VND 3,102 billion, increasing the equity of Faros Construction Joint Stock Company to VND 4,300 billion; then, he proposed to register to list 430 million ROS shares of Faros Construction Joint Stock Company on the Ho Chi Minh City Stock Exchange to sell and appropriate more than VND 3,620 billion from investors.
The Ministry of Public Security's Investigation Police Agency has clarified the criminal acts and issued a Decision to supplement the decision to prosecute 04 defendants, including: Trinh Van Quyet, Trinh Thi Minh Hue, Trinh Thi Thuy Nga, Huong Tran Kieu Dung; issued a Decision to prosecute 01 defendant Nguyen Thien Phu for the crime of "Fraudulent appropriation of property", prescribed in Clause 4, Article 174 of the 2015 Penal Code.
On October 28, 2023, the Ministry of Public Security's Investigation Police Agency issued Conclusion of Criminal Case Investigation No. 34/KL-VPCQCSDT and transferred the entire case file to the Supreme People's Procuracy (Department 5), proposing to prosecute Trinh Van Quyet and his accomplices according to the provisions of Clause 2, Article 211 and Clause 4, Article 174 of the 2015 Penal Code.
During the investigation, the Ministry of Public Security's Investigation Police Agency assigned the investigation to 200 Investigation Police Agencies of all levels of the Public Security in provinces and centrally-run cities to receive reports, verify, and record statements from investors who still own ROS shares of Faros Construction Joint Stock Company.
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