The appeal trial for the “Manipulation of Securities” and “Fraudulent Appropriation of Property” case involving the FLC Group is scheduled for June 17th. The trial is expected to last five days (June 17-21, 2025), with Judge Vo Hong Son presiding.
Twenty-five defendants have filed appeals, and 134 victims and 396 individuals with related rights and obligations have also filed appeals. The court has summoned all 50 defendants to appear before the court.
So far, nearly 50 lawyers have participated in defending the defendants and protecting the legal rights and interests of the related parties, with five lawyers defending Trinh Van Quyet.
Previously, in August 2024, the Hanoi People’s Court had sentenced defendant Trinh Van Quyet to 21 years in prison for fraudulent appropriation of property and manipulation of the securities market. Meanwhile, Quyet’s two sisters, defendants Trinh Thi Minh Hue and Trinh Thi Thuy Nga, were sentenced to 14 and 8 years in prison, respectively.
Following the first trial, the three siblings of Trinh Van Quyet appealed for leniency in criminal responsibility. Additionally, 135 victims and 384 related individuals appealed to reconsider the amount of compensation and review certain contents of the first-instance judgment.
In December 2024, the Hanoi High-Level People’s Court opened a retrial for Trinh Van Quyet and related individuals, but it had to be postponed due to Quyet’s health issues, which prevented his presence at the trial.
Quyet’s request for a postponement stated that his health condition was poor, and he was suffering from malignant tuberculosis, drug allergies that caused him to cough up blood, hepatitis, gastritis, and acute renal failure. His complete medical records were attached to the request.
Defendant Trinh Van Quyet asked the appellate court to consider and base its decision on Resolution No. 164/2024/QH15 (effective from January 1, 2025) on the pilot handling of evidence and property during the investigation, prosecution, and trial of a number of cases and criminal offenses, to allow the sale and transfer of all assets to compensate for the damage caused.
On March 25, the Hanoi High-Level People’s Court once again brought the case to trial at the appellate level, but the trial was postponed again.
At the court, Quyet’s lawyer requested a postponement due to his client’s multiple health issues, a high risk of mortality, breathing difficulties, and the need for constant oxygen supply. The lawyer also requested time for the family to compensate for all damages caused by the case.
According to the first-instance verdict, Trinh Van Quyet was the mastermind and the person who directed the purchase of Faros Company. He also directed and managed the use of fake capital contributions, using them to legitimize the inflation of Faros Company’s capital from 1.5 billion VND to 4,300 billion VND. He registered the company as a public company, registered its securities, and listed its shares on the HOSE stock exchange. He then sold more than 391 million ROS shares, formed from inflated capital contributions, to 30,403 investors, appropriating over 3,621 billion VND.
Defendant Quyet was also the mastermind and director of the manipulation of five stock codes, earning an illegal profit of over 723 billion VND.
T.Nhung
– 13:30 02/06/2025
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