On June 17th, the Appellate Court inquired about the appeals of the accused group and the victims, as well as those with related rights and obligations, in a case involving the FLC Group.
Le Van Tuan, a former auditor at Hanoi Auditing and Accounting LLC, requested to change his appeal from “requesting a re-examination of his signature and asking for a prison sentence equal to the duration of his detention” to “requesting a reduced sentence.”
“I have completed restitution, so I no longer appeal for a reduction in civil liability compensation. I only request a reduced sentence,” said Trinh Thi Thuy Nga, the defendant and sister of Trinh Van Quyen.
The defendants during the appeal trial.
The presiding judge stated that Mr. Quyen’s family had completed restitution and had a surplus of over VND 22 billion. Additionally, there were 5,000 petitions requesting leniency for Mr. Quyen from local authorities in Vinh Phuc, the FLC Group, and related units.
According to the trial panel, Mrs. Le Thi Ngoc Diep, Mr. Quyen’s wife, requested that the court change the sentence for the offense of “Stock Market Manipulation” to a monetary penalty instead of imprisonment. For the offense of “Fraudulent Appropriation of Property,” she requested a reduction of the sentence to the duration of his detention.
Defendant Trinh Thi Minh Hue.
Mr. Quyen’s defense attorney stated that since restitution had been completed, his client would not appeal for a reduction in civil liability compensation…
Previously, the trial panel announced that Mr. Quyen suffered from multiple underlying health conditions, including breathing difficulties, high blood pressure, pulmonary arterial hypertension, edema in both limbs, and reduced left kidney function. He required oxygen support and faced a high risk of death.
According to the first-instance verdict, from 2017 to 2022, Trinh Van Quyen directed his sister, Trinh Thi Minh Hue, and their accomplices to manipulate the stock market for five stocks: AMD, HAI, GAB, FLC, and ART, earning over VND 700 billion in illegal profits.
The indictment alleged that from 2014 to 2016, shareholders contributed nearly VND 1,200 billion in charter capital to Faros Construction JSC. However, Mr. Quyen signed blank documents and created fictitious capital contribution records to inflate the company’s capital to over VND 4,300 billion.
Defendant Trinh Thi Thuy Nga.
Subsequently, the defendants requested to list 430 million ROS shares of Faros Company on HOSE to sell and appropriate money from investors.
In this case, the leaders and officers of the State Securities Commission and the Ho Chi Minh City Stock Exchange (HOSE) were accused of facilitating the listing of ROS shares on the exchange due to their acquaintance with Trinh Van Quyen, despite it being against regulations.
In the first-instance trial, in addition to imprisonment, Mr. Quyen and his sister, Trinh Thi Minh Hue, were ordered to compensate the victims and related persons a total of over VND 1,521 billion in proportion to their liability: Mr. Quyen 90% and Ms. Hue 10%.
For the offense of stock market manipulation, the three siblings, including Mr. Trinh Van Quyen, were jointly and severally liable to pay the state budget the illegal profit of VND 683 billion. Mr. Quyen was responsible for VND 500 billion, Ms. Trinh Thi Minh Hue for VND 100 billion, and Ms. Trinh Thi Thuy Nga for over VND 83 billion.
Over 100 Victims Plead for Leniency for Mr. Trinh Van Quyet
The court stated that 114 out of 134 victims had petitioned for leniency for the accused, Trinh Van Quyet, and his sister, as they had received full compensation for the damages.
Former FLC Chairman Trinh Van Quyet Requests Fine in Lieu of Jail Term
Former FLC Chairman Trinh Van Quyet has petitioned for a monetary penalty in lieu of imprisonment for stock market manipulation.
The Empire of ‘Cannon’ Hau Bags a Whopping 7 Trillion VND at its Nha Trang Project
Since 2016, Nguyen Van Hau’s Phuc Son Group has, through investment cooperation contracts and land use rights transfer procedures, collected over VND 7,000 billion from customers.
“The Absence of Mr. Trinh Van Quyet in Court: A Matter of Grave Concern”
At this trial, the defendant Trinh Van Quyet’s lawyer stated that his client is at high risk of death and requested his absence, asking the court to proceed with the trial.
Charging and Detaining Le Thanh Khoi
With a knack for deception, Le Thanh Khoi (born 1978, residing in Tan Hung, Ly Van Lam, Ca Mau city) fabricated information about secured assets and colluded in transferring land-use rights. This cunning individual deceived others out of their money, amassing a staggering 2.7 billion VND to fund personal expenses and debts.
