Former FLC Chairman Trinh Van Quyet’s Sentence Reduced to 7 Years in Prison
The defendants at the first-instance trial
On the morning of June 26, 2025, the Hanoi High-Level People’s Court announced the verdict for Trinh Van Quyet, former chairman of FLC Group, and his accomplices in the “Manipulating the Securities Market and Appropriating Assets” case.
Trinh Van Quyet was sentenced to 4 years in prison for manipulating the securities market (first-instance sentence was 3 years). Thus, the total sentence for Trinh Van Quyet is 7 years in prison and a fine of 4 billion VND.
Trinh Thi Minh Hue, Trinh Van Quyet’s sister, was sentenced to 4 years and 6 months in prison for appropriating assets (first-instance sentence was 11 years and 6 months) and a fine of 3.5 billion VND for manipulating the securities market (first-instance sentence was 30 months in prison).
Trinh Thi Thuy Nga, another sister of Trinh Van Quyet and former deputy general director of BOS Securities Company, was sentenced to time served and a fine of 3 billion VND for appropriating assets and manipulating the securities market (first-instance sentence was 8 years in prison for both charges). According to the verdict, Nga had been detained for 38 months and 21 days, and the court ordered her release if she is not prosecuted or detained in another case.
The appellate court recognized several mitigating circumstances for Trinh Van Quyet, including the fact that he committed the crimes for the first time, had repaid almost 2,500 billion VND to compensate for the damage caused (overpaying by more than 20 billion VND), and had more than 110 victims in the case filing petitions to reduce his sentence. In addition, there were a total of more than 5,000 petitions from individuals and organizations across the country requesting leniency for the former FLC chairman. Therefore, the appellate court found grounds to reduce the sentence for Trinh Van Quyet.
With regard to the defendants’ appeals to commute the prison sentence to a fine for the charge of manipulating the securities market, the appellate court noted that Trinh Van Quyet had paid a total of more than 40 billion VND to ensure payment of fines for himself and other defendants in the case. Therefore, the appellate court found grounds to accept the defendants’ appeals to commute the prison sentence to a fine for the charge of manipulating the securities market.
Trinh Thi Minh Hue, Trinh Thi Thuy Nga, Huong Tran Kieu Dung (former vice chairman of FLC Group), Nguyen Quynh Anh (general director of BOS Securities Joint Stock Company), and other defendants were recognized by the appellate court as first-time offenders who sincerely confessed and had good personalities. Many of the defendants did not benefit from the crimes, so the appellate court found grounds to reduce their sentences.
Regarding the assets that were seized and frozen in the case, the appellate court ordered their release since all damages in the case had been compensated.
According to the case file, Trinh Van Quyet directed the inflation of Faros Construction Joint Stock Company’s capital contribution from 1.5 billion VND to more than 4,300 billion VND, resulting in illegal profits of over 3,600 billion VND. The remaining defendants were considered active accomplices in this scheme.
In the act of manipulating the securities market, the verdict stated that the defendants’ actions reduced the state’s management effectiveness, caused public outrage, and eroded investors’ confidence. As a result, many investors lost 684 billion VND in the stock market manipulation scheme.
Prior to the appellate trial, Le Thi Ngoc Diep, Trinh Van Quyet’s wife, and her family members had paid an additional 1,400 billion VND to compensate for the damage caused by Trinh Van Quyet. To date, including the previously paid amount of 1,072 billion VND, the family of the former FLC chairman has paid a total of more than 2,472 billion VND.
Trinh Van Quyet’s family also paid an additional 50 billion VND, which they voluntarily offered to be used to apply a monetary penalty instead of imprisonment for Trinh Van Quyet, Trinh Thi Thuy Nga, Trinh Thi Minh Hue, Trinh Van Dai (Trinh Van Quyet’s cousin), Nguyen Van Manh (Trinh Van Quyet’s brother-in-law), and Huong Tran Kieu Dung, if the appellate court accepted their appeals.
Former FLC Chairman Trinh Van Quyet’s Sentence Reduced by Over a Decade
On June 26, the Hanoi High-Level People’s Court sentenced Trinh Van Quyet to 7 years in prison for “Appropriation of Property by Deception”, reducing the previous sentence of 18 years given by the lower court.
“Mr. Trinh Van Quyet’s Case: Prosecutors Stand Firm on Recommended Reduced Sentences as Just and Humanitarian”
“The prosecution’s recommended reduced sentences for the defendants, as mentioned in the indictment, are just and merciful. It is unreasonable for Mr. Trinh Van Quyet’s lawyer and other lawyers to request suspended sentences or sentences equal to time already served for a case with such significant consequences.”
“Proposed Monetary Penalty for Stock Market Manipulation”
The prosecution has requested that the court accept a partial appeal from the defendant, Trinh Van Quyet, and reduce his sentence for fraud. They have recommended a prison term of 7 to 8 years for the offense of fraud and a monetary penalty in place of imprisonment for the offense of stock market manipulation, resulting in a fine of 4 billion dong.
A Billionaire Family Overcompensates in Civil Liability Settlement, Returning Over $946,000.
“In her petition to the court, Le Thi Ngoc Diep pleaded for a fine instead of a prison sentence for Trinh Van Quyet for the charge of ‘Manipulating the securities market’. For the charge of ‘Fraudulent appropriation of property’, she requested that the court reduce her husband’s sentence to time served.”
The Legacy of a Former Chairman: The Trịnh Văn Quyết Family Contributes an Additional 24.5 Billion VND
The legal representative of Mr. Trinh Van Quyet presented a bank statement confirming a balance of 24.5 billion VND. Accompanying this was a commitment letter from the account holder, expressing their willingness to comply with any orders from the judging panel to freeze the said amount.
