On December 26, the High People's Court in Hanoi will open an appeal hearing on the case that occurred at FLC Group Joint Stock Company (FLC Group) and related units. The hearing was opened due to appeals from many defendants, victims and people with related rights and obligations.
In this case, defendant Trinh Van Quyet (former Chairman of the Board of Directors of FLC Group) appealed for a reduction in his prison sentence and consideration and reduction of his civil compensation liability.
Like her brother, defendant Quyet's two younger sisters, Trinh Thi Minh Hue and Trinh Thi Thuy Nga, both appealed to reduce their criminal responsibility and requested the appellate court not to force them to compensate or remedy the consequences.
23/50 defendants in the case also appealed for a reduced sentence, a suspended sentence, the removal of asset freezes, or appealed the entire first instance judgment.
Former Chairman Trinh Van Quyet at the first instance trial.
There are currently about 30 lawyers registered to participate in the trial to defend the defendants. Of these, defendant Trinh Van Quyet has 7 defense lawyers; defendant Trinh Thi Minh Hue has 2 defense lawyers…
Previously, on the afternoon of August 5, the Hanoi People's Court announced the first instance verdict against former Chairman of FLC Group Trinh Van Quyet and 49 defendants in the case of Stock Market Manipulation and Fraudulent Appropriation of Property occurring at FLC Group and related units.
The first instance court decided to sentence defendant Trinh Van Quyet to 21 years in prison for both fraud and stock market manipulation. Convicted of the same two crimes, Trinh Thi Minh Hue was sentenced to 14 years in prison, and Trinh Thi Thuy Nga was sentenced to 8 years in prison.
The panel of judges determined that in this case, defendant Trinh Van Quyet was the mastermind. Defendant Trinh Thi Minh Hue was determined by the court to be an active practitioner, receiving instructions from her brother to commit the violations, helping Quyet illegally gain an exceptionally large amount of money... The other defendants played the role of accomplices.
The case content shows that from May 2017 to January 2022, Trinh Van Quyet directed his sister and accomplices to borrow the names of employees, relatives and family members to prepare documents and procedures to establish a company, open securities accounts and bank accounts.
The defendants then carried out a series of market manipulation acts on 5 stock codes: AMD, HAI, GAB, FLC, ART. After the stock prices increased, Trinh Van Quyet directed the "dumping" of stocks, illegally profiting more than 723 billion VND.
In addition, from 2014 to September 2016, Trinh Van Quyet directed the leaders and employees of Faros Company (stock code ROS), companies under FLC Group and relatives to act as shareholders contributing capital, to carry out tricks of creating and signing fake capital contribution documents, thereby increasing the charter capital of Faros Company from 1.5 billion VND to 4,300 billion VND.
Next, the defendants created documents, requested approval to register as a public company, register for securities depository and list 430 million shares formed from the fictitious capital contribution of Faros Company.
After successfully listing shares, Trinh Van Quyet and his accomplices sold more than 391 million shares of Faros Company to appropriate more than VND3,600 billion from investors.
According to the People's Court, Trinh Van Quyet assigned other defendants to carry out tasks and committed a series of intentional violations, from purchasing Green Belt Company (the predecessor of Faros Company), contributing false capital, increasing false capital to using the HoSE floor as a means to sell shares and then appropriating investors' money.
The first instance court assessed that the above violations were extremely serious, and that the defendants had committed fraudulent acts to appropriate money from investors. This act was dangerous to society and violated regulations on securities transactions.
Source: https://vtcnews.vn/cuu-chu-tich-flc-trinh-van-quyet-sap-hau-toa-phuc-tham-ar914919.html
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