Former FLC CEO and 21 others who assisted Trinh Van Quyet in fraud have been indicted.

On January 31st, information from the Ministry of Public Security indicated that the Investigation Police Department of the Ministry of Public Security issued additional decisions to prosecute, arrest, and detain 22 defendants in the "Fraudulent appropriation of property" case involving Mr. Trinh Van Quyet (former Chairman of the Board of Directors of FLC Group Joint Stock Company).

Among these defendants are several former FLC Group leaders who were once subordinates of Trinh Van Quyet, including: Doan Van Phuong (former General Director of FLC Group, Chairman of the Board of Directors of Faros Construction Joint Stock Company); Trinh Van Dai (former Chairman of the Board of Directors, Deputy General Director of Faros Construction Joint Stock Company); Do Nhu Tuan (former General Director of Faros Construction Joint Stock Company); Nguyen Van Manh (former Member of the Board of Directors of Faros Construction Joint Stock Company, brother-in-law of Trinh Van Quyet);

Dam Mai Huong (former Chief Accountant of Faros Construction Joint Stock Company); Nguyen Van Thanh (former Head of the Supervisory Board of Faros Construction Joint Stock Company); Hoang Thi Thu Ha (Accountant of FLC Land One-Member Limited Liability Company); Tran The Anh (Deputy General Director of FLC Group); Do Quang Lam (former General Director of Faros Construction Joint Stock Company); Nguyen Thanh Binh (former Deputy General Director of FLC Group, Chairman of the Board of Directors of RTS Company);

Le Thanh Vinh (former Chairman of the Board of Directors of Faros Construction Joint Stock Company); Nguyen Tien Dung (former General Director of Faros Construction Joint Stock Company); Le Tan Son (former Deputy Chief of Office, Secretary of the Board of Directors of FLC Group); Trinh Tuan (former Head of Materials Department of FLC Land One-Member Limited Liability Company); Dang Thi Hong (former Deputy Head of Legal Department, FLC Group Joint Stock Company);

Le Van Sac (Chairman of the Board of Directors of Alaska Real Estate Investment Joint Stock Company and Director of FLC Land One-Member Limited Liability Company); Truong Van Tai (Office employee of FLC Group Joint Stock Company, driver for Trinh Van Quyet); Nguyen Binh Phuong (former Chairman of the Board of Directors of FLC Faros Construction Joint Stock Company); Nguyen Minh Diem (former administrative and human resources employee of BOS Securities Joint Stock Company);

Nguyen Thi Hong Dung (sister of Nguyen Van Manh, brother-in-law of Trinh Van Quyet); Nguyen Ngoc Tinh (Chairman of the Board of Members, former General Director of Hanoi Auditing and Accounting Company Limited); and Le Van Tuan (Auditor of Hanoi Auditing and Accounting Company Limited) are also among those prosecuted.

The Investigation Police Department of the Ministry of Public Security is conducting an investigation into the case of "Stock market manipulation" and "Fraudulent appropriation of assets" that occurred at FLC Group Joint Stock Company, BOS Securities Joint Stock Company, FLC Faros Construction Joint Stock Company, and related companies.

To date, the police have investigated and clarified the wrongdoings of 22 individuals, including former leaders of Faros Construction Joint Stock Company, companies belonging to the FLC Group, an auditing company, and relatives of Trinh Van Quyet, who acted as accomplices and actively assisted Mr. Quyet in "fraudulent appropriation of assets".

The Investigation Police Department of the Ministry of Public Security determined that these individuals assisted Trinh Van Quyet in inflating the charter capital of FLC Faros Construction Joint Stock Company from 1.5 billion VND to 4,300 billion VND, equivalent to 430 million shares, listed on the HOSE stock exchange, and selling them to embezzle money from investors.

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