In the case of Stock Market Manipulation, which occurred at FLC Group Joint Stock Company, BOS Securities Joint Stock Company, Faros Construction Joint Stock Company and related companies, the Ministry of Public Security proposed to prosecute 21 defendants.
Of these, 4 people are being investigated for 2 crimes: Stock Market Manipulation and Fraudulent Appropriation of Assets. Mr. Trinh Van Quyet (former Chairman of the Board of Directors of FLC Group Corporation) and his sister Trinh Thi Minh Hue are 2 of these 4 defendants.
At the investigation agency, the defendant Trinh Van Quyet initially confessed to directing his sister and accomplices to manipulate the stock market.
However, when the investigation agency initiated additional prosecution for the act of Fraudulent appropriation of property, Mr. Quyet changed his testimony and did not admit to his crime. The authorities also accused Mr. Quyet of blaming his sister and others.
Mr. Trinh Van Quyet (Photo: Government Newspaper).
However, based on the investigation results, the Ministry of Public Security believes that the actions of the former Chairman of FLC have sufficient elements to constitute the crimes of Stock Market Manipulation and Fraudulent Appropriation of Property, as the mastermind, leader, and perpetrator of the crime.
According to the indictment, the defendant Quyet took advantage of the provisions of the law on securities activities to commit crimes many times, with sophisticated and cunning tricks, gaining especially large illegal profits, causing damage to investors.
The investigation concluded that the former Chairman of FLC also enticed and influenced his family members and friends to commit crimes. The evidence proving the crimes was clear, but the defendant stubbornly refused to admit his crimes, blaming his sister and others for committing the crimes.
Therefore, the investigation agency finds it necessary to deal with this defendant with a severe sentence before the law for general education, deterrence and prevention.
According to the Ministry of Public Security, from May 26, 2017 to January 10, 2022, Trinh Van Quyet 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 700 billion VND.
Expanding the investigation, the authorities accused that from 2014 to 2016, shareholders only contributed nearly 1,200 billion VND in charter capital to Faros Construction Joint Stock Company.
However, with the purpose of appropriating investors' money in 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 worth more than VND 3,100 billion, increasing the equity of Faros Company to VND 4,300 billion.
After that, the defendants proposed to register to list 430 million ROS shares of Faros Company on the Ho Chi Minh City Stock Exchange to sell and appropriate more than 3,600 billion VND from investors.
Source
Comment (0)