On June 18, the second day of the appellate trial proceeded with cross-examinations, following the requests for leniency from Trinh Van Quyet, the former chairman of the FLC Group, who was convicted of securities manipulation and fraud.
Attorney Nguyen Trong Nghia, one of the five lawyers defending Quyet, stated that Quyet’s family had deposited an additional 24.5 billion VND into a bank account that morning. The purpose of this additional payment is to ensure that the fine is paid if Quyet and the other defendants are granted a conversion from prison sentences to monetary penalties for securities manipulation.
The defendants at the appellate trial.
Attorney Nghia referred to the presiding judge’s announcement from the previous day, stating that Quyet had compensated for the entire nearly-VND 2,500 billion loss and had, in fact, overpaid by more than VND 20 billion. Quyet’s family wishes to use this overpaid amount to pay the fine if Quyet’s sentence is converted.
If there is still a surplus after paying the fine for Quyet, the remaining amount will be used to pay the fines for the other defendants if their sentences are also converted to monetary penalties. Should there be any remaining funds after that, the family requests that it be forfeited to the state. In the event that the aforementioned VND 20 billion is insufficient to cover the fines, Quyet’s family will utilize the recently deposited VND 24.5 billion to fulfill the obligation.
Attorney defending Trinh Van Quyet.
Attorney Nghia also presented to the appellate council, the prosecutor’s office, and the court a document confirming the account balance of VND 24.5 billion, along with a commitment from the account holder to “be ready to block this amount following the decision of the appellate council.”
The presiding judge stated that the defendants’ requests to convert their prison sentences to fines are just proposals, and the council will consider and decide on them later.
“Mr. Trinh Van Quyet Absent from Court Hearing Due to Poor Health, Facing High Risk of Mortality”
The trial’s presiding judge revealed at today’s opening of the appeal that documents from the prison showed that Mr. Trinh Van Quyet suffers from numerous underlying health conditions, including respiratory problems, hypertension, elevated pulmonary arterial pressure, bilateral edema, and reduced left kidney function. He requires oxygen support and is at a high risk of mortality.
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 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.
Fixing a $2.5 Billion Blunder: Why Did Trinh Van Quyet Overpay by $10 Million?
The family of former FLC Chairman Trinh Van Quyet has paid nearly VND 2,500 billion, exceeding by VND 10 billion the amount that the three brothers were ordered to pay by the first-instance court.
