On June 17th, the Hanoi-based High-Level People’s Court tried 25 defendants who had filed appeals in a case involving stock market manipulation and fraud, connected to former FLC Chairman, Trinh Van Quyet. The trial proceeded to the debate stage.
During the presiding judge’s announcement, several defendants related to the stock market manipulation charges simultaneously requested leniency from the council. Many defendants also asked to modify their appeals.
Regarding defendant Trinh Van Quyet (who requested to be tried in absentia), the presiding judge informed that Quyet had, by then, paid over VND 1,880 billion in damages; and there were more than 5,000 petitions from organizations, entities, and individuals seeking leniency for him.
Judge Son also announced that Quyet’s wife, Mrs. Diep, had expressed her husband’s wish to have his sentence for fraud equivalent to the time spent in detention, and to have the stock market manipulation charge commuted to a fine.
The defendants in the appellate trial.
Quyet’s defense lawyer supplemented that, given the full reparation made by the defendant, they were withdrawing the request for leniency. The lawyer reiterated Quyet’s wish to pay a fine instead of serving a prison sentence for stock market manipulation.
At this point, Presiding Judge Son announced that Quyet’s family and his two sisters had overpaid in reparations.
Apart from former FLC Chairman Trinh Van Quyet, defendant Le Van Tuan (an auditor at the Hanoi Audit and Accounting Company, sentenced to 5 years and 6 months in prison by the Hanoi People’s Court of First Instance) also modified his appeal, changing it from a request for signature verification to a plea for leniency.
Defendant Trinh Thi Thuy Nga (Quyet’s sister, sentenced to 8 years in prison) partially withdrew her appeal, pleading for leniency and dropping the civil liability appeal as full reparation had been made.
Defendant Nguyen Van Manh (head of the FLC Land Procurement Group, Nga’s husband, sentenced to 6 years in prison) pleaded for leniency for fraud and requested a fine for stock market manipulation instead of imprisonment.
Presiding Judge Son stated that, in the case of a fine request, the defendant must prove their ability to pay. He then announced the applicable fines as per state regulations.
Accordingly, for the first clause of stock market manipulation, the fine ranges from VND 500 million to VND 2 billion, or imprisonment from 6 months to 3 years. For the second clause, the fine ranges from VND 2 billion to VND 4 billion, or imprisonment from 2 to 7 years.
Defendant Huong Tran Kieu Dung (Permanent Vice Chairman of FLC Group, sentenced to 8 years and 6 months in prison) supplemented her appeal, requesting a fine instead of imprisonment for stock market manipulation.
Like the other defendants, Presiding Judge Son emphasized the need to demonstrate financial capacity. Dung stated that her family could pay VND 2 billion and was willing to do so.
Subsequently, Presiding Judge Vo Hong Son stressed that this request would be considered.
“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.
The Redemption of Mr. Trinh Van Quyet: A Story of Resilience and Recovery
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“In a recent development, Le Thi Ngoc Diep, the wife of Trinh Van Quyet, made a substantial payment of over VND 1,400 billion to the Hanoi City Department of Civil Judgment Enforcement. This payment was made in an effort to remedy her husband’s legal situation.”
Postponement of Trial for Apartment Fire that Killed 56 People
The trial for the devastating mini apartment complex fire that claimed the lives of 56 individuals has been postponed by the judiciary due to unforeseen circumstances.
The Defendant, Trinh Van Quyet, Compensates an Additional 100 Billion Dong
On June 17, the Hanoi People’s Court will resume the appellate trial of Trinh Van Quyet, former Chairman of the Board of Members of FLC Group, and his accomplices.
