Apology to Investors
After more than a week of trial, just before noon on July 29th, the 50 defendants in the case of “Manipulating the Securities Market and Fraudulent Appropriation of Property”, which took place at the FLC Group, were given the opportunity by the judge to make their final statements before deliberations.
Speaking first, Mr. Trinh Van Quyet (former Chairman of the FLC Group) shared that throughout his business career, he had always dreamed of developing golf courses, resorts, real estate, and aviation, and had achieved certain successes that were recognized and highly regarded by society. He had also transformed difficult regions and provided jobs for hundreds of thousands of people.
However, he acknowledged that in pursuing these grand dreams and ambitions, he had, at times, exceeded the boundaries of what was legally permissible, which had led to the current situation.
“I deeply regret that despite my efforts and struggles as an entrepreneur for over twenty years, I cannot change the fact that many of my loved ones, friends, and colleagues, who trusted me, are now entangled in legal troubles. I want to apologize to them, and I humbly request the Court to consider leniency for all the defendants so that they can soon reunite with their families,” Mr. Quyet said, his voice choking with emotion.
The former Chairman of FLC also apologized to all the victims identified in the case, pleading for clemency for all the defendants.
According to Mr. Quyet, this has been an immensely difficult lesson that will haunt him and the other defendants for the rest of their lives. Therefore, he once again implored the Court to consider reducing the sentences for all the defendants.
“I have not asked for leniency for myself, not because I don’t want to, but because standing here today, seeing so many people implicated in this case, I find it difficult to speak for myself at this moment. I would like to express my gratitude to the Court and the representatives of the prosecution for listening. I hope that the Court will render a judgment that is fair, objective, humane, and considerate of our circumstances, giving us a chance to rebuild our lives. Thank you,” Mr. Quyet concluded.
Next to speak was Ms. Trinh Thi Minh Hue (former accounting staff member of the FLC Group), who shared that her older brother, Trinh Van Quyet, was someone she deeply respected and who was the pride of their entire family.
“Today, he stood up and took full responsibility for the rest of the defendants, and I hope the Court will take that into consideration,” Ms. Hue said, her voice heavy with sadness.
She expressed her deep regret and apologized for having many people put their trust in her and sign various documents. She pleaded with the Court to reduce the sentences for all the defendants.
 Mr. Trinh Van Quyet at the trial. |
Overwhelmed by the Number of Family Members Entangled in Legal Troubles
The third person to speak was Ms. Trinh Thi Thuy Nga (former Vice President of BOS Securities Company). For about ten minutes, she sobbed as she struggled to speak.
First, she apologized to her co-defendants, acknowledging that they were in their current situation because of her. “Here, I have brothers, sisters, friends, colleagues, and even my husband. Outside, my three young children are left unattended, and my father-in-law, unable to bear the fact that his son and son-in-law are both entangled in legal troubles, passed away three months ago. He died without his son by his side… I just hope that after this trial, I will be able to go back and fulfill my filial duties,” Ms. Nga wept.
Ms. Huong Tran Kieu Dung (former Vice Chairwoman of the FLC Group) also expressed her remorse and regret. She stated that she had no intention of defrauding investors and that her violations were due to her lack of legal knowledge.
According to Ms. Dung, her “golden years” were tied to FLC, where she was able to utilize her strengths and expertise in the real estate field, contributing to the group’s growth and bringing benefits to society and the communities surrounding their projects.
“I am also proud that, to this day, the FLC Group continues to operate with more than 10,000 employees and is still working on completing unfinished projects…,” said Huong Tran Kieu Dung. She emphasized that her only motivation during her time with the company was to ensure a stable life for the tens of thousands of employees who had put their trust in her and the group.
At the end of her statement, Ms. Dung also broke down in tears, pleading with the Court to reduce the sentences for herself and her co-defendants.
Huang An
FLC Scandal: 22 more defendants charged in Trinh Van Quyet case
22 suspects have assisted the former Chairman of the FLC Group, 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. They are accused of embezzling investors’ money.
Government Inspector: Dealing with corruption with the spirit of “no escape”
From 2021 until now, the work of detecting, prosecuting, investigating, and handling corruption cases has seen new developments in uncovering the nature, motive, and misappropriation of assets with the intertwining of the state and non-state sectors.
How did Trinh Van Quyet and his accomplices embezzle and gain illicit profits?
Trịnh Văn Quyết and his accomplices have embezzled hundreds of billions of Vietnamese dong for personal gain by trading shares of multiple companies on the stock exchange, spending on personal expenses, renovating their homes, and repaying loans.
