The Investigation Police Agency of the Ministry of Public Security has issued additional decisions on charging, prosecuting, arresting, and temporary detention in the case of Fraudulent Appropriation that occurred at FLC Group Joint Stock Company, BOS Securities Joint Stock Company, FLC Faros Construction Joint Stock Company (Faros Construction Company), and related entities.
“Blood brother” helps Trinh Van Quyet fraudulently increase the charter capital of ROS from 1.5 billion to 4,300 billion VND
According to the Ministry of Public Security, these individuals assisted Trinh Van Quyet in fraudulently increasing the charter capital of Faros Construction Company from 1.5 billion VND to 4,300 billion VND, equivalent to 430 million shares, listed on the HoSE stock exchange, and misappropriating the money of investors.
Among the accused is Mr. Doan Van Phuong (born in 1977, from Thanh Hoa), former CEO of FLC Group, Chairman of the Board of Directors of Faros Construction Company. Mr. Phuong attracted attention with his high-profile wedding with Miss Thu Ngan (19 years younger), owning a huge fortune, especially as a Rolls-Royce supercar enthusiast, and an important figure in the FLC ecosystem of Trinh Van Quyet.
Photo: Mr. Phuong is also known as the youngest “big boss” at the age of 38.
It is known that Mr. Phuong graduated from Hanoi Law University and has a master’s degree in Business Administration in the United States. After that, he worked in the postal sector and held the position of Deputy Head of General Department of Post and Telecommunication Supplies – Hanoi Post when he was only 23 years old. 9 years later, Mr. Phuong suddenly switched to the real estate business. By early 2010, Mr. Phuong officially joined FLC Group, then moved through many important positions in FLC Group as well as its member companies.
Mr. Phuong is a very important figure in the FLC ecosystem of Trinh Van Quyet. He served as CEO of FLC from 2011 to May 2015. After that, Mr. Phuong was appointed Vice Chairman of the Standing Board of Directors. But in September 2015, Mr. Phuong unexpectedly resigned.
Many years later, Mr. Phuong held key positions in a series of companies in the FLC ecosystem such as Chairman of the Board of Directors of H.A.I Agriculture Joint Stock Company, Chairman of the Board of Directors of Faros Construction Company…
Largest leader at ROS
As the right-hand man of Trinh Van Quyet, at one point, Mr. Phuong directly held assets worth about 70 billion VND on the stock exchange, from owning multiple different stocks.
These stocks include ROS of FLC Faros Construction, FLC of FLC Group, KLF of KLF International Investment Joint Stock Company.
Special mention goes to Faros – a well-known company in the Vietnamese stock market with a case of fraudulently increasing the capital under the hands of Trinh Van Quyet. Mr. Phuong was Chairman of the Board of Directors of FLC Faros from May 2015 to November 2016. In 2016, Mr. Phuong ranked third among shareholders at ROS with 500,000 shares, equivalent to a stake of 0.12%.
In the market, ROS is also a “mysterious” stock.
Recalling that, ROS shares were listed on HoSE on September 1, 2016, with a reference price of VND 10,500 per share. After that, ROS continuously increased rapidly and reached VND 100,000 per share a few months after listing. At its peak in early November 2017, ROS reached nearly VND 215,000 per share.
In just a few years of appearing on the market, this stock quickly entered the VN30 basket and rose sharply, helping former Chairman Quyet have assets worth tens of thousands of billion VND, becoming the richest person in the stock market at that time.
Regarding Mr. Phuong, although he no longer holds any position in Faros, he still had times for trading ROS shares.
Enigmatic billionaire owns Rolls-Royce supercar, previously married a beauty queen 19 years younger
In terms of personal life, Mr. Phuong is a famous billionaire from Thanh Hoa. He is known as the founder and then held the positions of Chairman of the Board of Directors and CEO of FLC Thanh Hoa Football Club. At the time of 2015, he was the youngest “big boss” in football at the age of 38.
At the age of 40, Mr. Phuong once again attracted attention when he held a wedding with Miss Vietnam Identity 2016 – Tran Thi Thu Ngan (born in 1996, Hai Phong). Miss Vietnam Identity 2016 was a competition organized by FLC Group. The engagement ceremony received wide coverage with the gift of a Rolls-Royce Wraith supercar worth about VND 18 billion at that time.
Ms. Thu Ngan later divorced this billionaire in 2021 but only announced it in mid-2022.
