Hanoi Police Investigation Agency executes the decision to prosecute the accused, Nguyen The Trinh
The Investigation Agency of the Hanoi Public Security, Hanoi province, is handling the investigation of a fraud case that occurred from 2015 to 2022 at Top One Distribution Joint Stock Company, located in Vi Xuyen district. The case involves the fraudulent inflation of the company’s charter capital, leading to its classification as a public company and the listing of 25,350,000 shares (stock code: TOP) on the stock exchange. The shares were sold despite having no guaranteed value, resulting in a loss of VND 64,735,740,000 for investors.
The Hanoi Investigation Agency of the Ministry of Public Security has identified the initial shareholders (F1) of Top One Company as victims of this fraud case. As a result, they have coordinated with investigative agencies in 37 provinces and cities to collect statements from the victims to ensure their rights and interests are protected according to the law.
To facilitate the investigation process, the Hanoi Provincial Public Security Investigation Agency requests that victims who purchased TOP shares initially issued by Top One Company promptly coordinate with the Investigation Agency of the Provincial Public Security (where the victim resides) to provide information and documents related to the purchase of shares. This cooperation will ensure that their rights and legitimate interests are protected. If the victims fail to cooperate and provide the necessary information before the end of the investigation, the Hanoi Provincial Public Security Investigation Agency will resolve the case in accordance with the law.
In January 2025, the Investigation Agency decided to prosecute and arrest Nguyen The Trinh, born in 1978 and residing in Ha Dong, Hanoi, for “Fraudulent appropriation of property” according to Article 174 of the Penal Code.
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The presiding judge announced that the defendant, Trinh Van Quyet, and his two sisters had overpaid their obligations by over VND 20 billion compared to the sentence declared in the first-instance trial. The judge noted that if a fine were to be imposed as a hypothetical scenario, the maximum amount for manipulating the stock market, according to Clause 2, Article 211 of the Penal Code, would be VND 4 billion, and Mr. Quyet has more than sufficient funds to cover this amount.
