On August 5th, the Hanoi People’s Court sentenced Trinh Van Quyet (former Chairman of the FLC Group) to 18 years in prison for “Fraudulent Appropriation of Property”, and 3 years for “Stock Market Manipulation”, resulting in a total sentence of 21 years.
The jury also handed down sentences to the other defendants as follows:
For the group of defendants charged with “Fraudulent Appropriation of Property” and “Stock Market Manipulation”:
Trinh Minh Hue (Chief Accountant of the FLC Group): 14 years in prison.
Trinh Thuy Nga (Chief Accountant of the FLC Group; Member of the Board of Directors and Vice President of BOS Securities Joint Stock Company): 8 years in prison.
Huong Tran Kieu Dung (Vice Chairman of the FLC Group, Chairman of BOS): 8 years and 6 months in prison.
Trinh Van Dai (Vice President of Faros Joint Stock Company): 11 years in prison.
Nguyen Van Manh (Head of Landscape Supplies Group, Procurement and Supplies Department, FLC Land Joint Stock Company): 6 years in prison.
Nguyen Thi Hong Dung (freelancer): 48 months in prison.
Trinh Tuan (former Director of FLC Land): 4 years and 6 months in prison.
Group of defendants charged with “Stock Market Manipulation”:
Nguyen Quynh Anh (Director of BOS): 24 months in prison.
Nguyen Thi Thanh Huong (Head of Securities Services Division, BOS): 30 months suspended sentence.
Nguyen Thi Thu Thom (Deputy Head of Securities Services Division, BOS): 24 months in prison.
Bui Ngoc Tu (Deputy Head of Securities Services Division, BOS): 20 months in prison.
Tran Thi Lan (Chief Accountant of BOS): 15 months suspended sentence.
Quach Thi Xuan Thu (Chief Accountant of BOS): 16 months in prison.
Trinh Van Nam (employee of Tre Viet Aviation Joint Stock Company): 15 months suspended sentence.
Nguyen Quang Trung (driver of Ha Thanh Polyclinic): 15 months suspended sentence.
Trinh Thi Thanh Huyen (employee of FLC Homes Real Estate Investment and Business Joint Stock Company): 15 months suspended sentence.
Nguyen Thi Nga (specialist of FLC Digital Commerce and Services Joint Stock Company): 15 months suspended sentence.
Hoang Thi Hue (specialist of FLC Digital Commerce and Services Joint Stock Company): 15 months suspended sentence.
Do Thi Huyen Trang (Deputy Head of Accounting Department of FLC Group Joint Stock Company): Â 15 months suspended sentence.
Chu Tien Vuong (former Vice Chairman of BOS): 24 months in prison.
(more updates to come…)
T.Nhung
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.
The FLC CEO’s Escape: How did he assist Trinh Van Quyet in fraud?
As the CEO and Chairman of Faros Construction Corporation, Doan Van Phuong, the defendant, instructed the members of the Board of Directors and the Executive Committee to issue a resolution to increase the charter capital and set up a fraudulent capital contribution dossier. The purpose was to assist Trinh Van Quyet in selling shares to misappropriate over 3,620 billion VND from investors in the stock market.
