Recently, the Investigative Police Agency of the Ministry of Public Security has announced the Supplementary Investigation Conclusion of the “Stock Market Manipulation” and “Misappropriation of Assets” case involving Mr. Trinh Van Quyet (former Chairman of FLC Group) and his accomplices.
During the investigation process of the case, the investigating agency has examined and dealt with the responsibilities of individuals in the Board of Directors of BOS Securities Company for allowing the issuance of intraday buying power limits for securities accounts. This created favorable conditions for Trinh Thi Minh Hue (Mr. Quyet’s sister) to manage, use, and assist Trinh Van Quyet in committing crimes. Among these individuals, there are three members of the Board of Directors of BOS Company, including Mr. Le Ba Nguyen, Ms. Nguyen Quynh Nga, and Mr. Tong Hai Ninh.
In the supplementary investigation conclusion, all three of the mentioned individuals did not contribute capital but were only requested by Trinh Thi Thuy Nga (Mr. Quyet’s sister) to stand as members of the Board of Directors of BOS Company. They did not directly work or operate in the business.
Although they did not attend the Board of Directors meetings, they still participated in signing the minutes of the Board of Directors meetings on January 20, 2020, and April 28, 2020. These signed minutes were used as a basis for Huong Tran Kieu Dung to issue two resolutions regarding Trinh Thi Thuy Nga’s authority and responsibility for approving disbursements for loans related to securities accounts opened at BOS Company. These resolutions allowed Trinh Thi Thuy Nga to directly instruct the issuance of false intraday buying power limits for securities accounts of Trinh Thi Minh Hue.
However, at the time of signing the minutes, Mr. Le Ba Nguyen, Ms. Nguyen Quynh Nga, and Mr. Tong Hai Ninh did not receive any prior reports. They only received pre-prepared minutes with the signatures of other members of the Board of Directors. Before signing, these three individuals also did not receive reports or exchanges from Huong Tran Kieu Dung and other members of the Board of Directors of BOS Company, so they did not fully understand the nature and purpose of the drafted minutes and resolutions mentioned above.
Investigation materials have not proven the subjective awareness of Mr. Le Ba Nguyen, Mr. Tong Hai Ninh, and Ms. Nguyen Quynh Nga about Trinh Thi Thuy Nga’s provision of false buying power limits for accounts managed by Hue for market manipulation.
At the investigation agency, all three individuals acknowledged the above contents and stated that they did not discuss or have knowledge of other defendants providing false buying power limits for accounts for Trinh Thi Minh Hue’s securities market manipulation.
The investigating agency concluded that the behaviors of Le Ba Nguyen, Tong Hai Ninh, and Nguyen Quynh Nga do not meet the criminal elements. Because although these three individuals signed the minutes of the Board of Directors meetings, they did not directly work or operate in BOS Company, so they did not know about the issuance of false buying power limits for securities accounts to manipulate the stock market.
When signing the minutes, these three individuals also did not receive reports from the Board of Directors, the CEO, and employees of BOS Company, so they did not fully understand the nature and purpose of the drafted minutes and resolutions of the Board of Directors.
According to research, Mr. Le Ba Nguyen was born in 1977 in Tho Xuan district, Thanh Hoa province. He graduated from Hanoi Medical University, and he is a general practitioner and Master of Health Management. This entrepreneur has over 17 years of business management experience in senior management positions in many companies. He was a member of FLC Board of Directors from 2013 to October 2017 and from June 2018 to June 2020.
Mr. Nguyen has held leadership positions in various healthcare companies such as Deputy Chairman of the Board of Directors and Director of Hong Duc Medical Technology Joint Stock Company, Director of Viet-Han Polyclinic, Chairman of the Board of Directors of Ha Thanh Medical Service Joint Stock Company, and ATS Pharmaceutical Group Joint Stock Company.
Currently, Mr. Le Ba Nguyen is still the Chairman of the Board of Directors of FLC.
