In his defense of Mr. Trinh Van Quyet, attorney Nguyen Trong Nghia requested that the Court dismiss the charges of “Manipulating the securities market” and impose a prison sentence equal to the duration of his detention for the offense of “Fraudulent appropriation of property.”
The lawyer put forth several mitigating circumstances, including the fact that the defendant’s family had proactively remedied the situation by repaying nearly VND 2,500 billion, despite the majority of their assets being frozen and seized. Additionally, Mr. Quyet is suffering from a severe illness.
Furthermore, the lawyer cited Resolution 68 of the Politburo and Resolution 198 of the National Assembly, emphasizing the policy of prioritizing civil, economic, and administrative measures before resorting to criminal proceedings for violations in the private economic sector.
In cases where criminal prosecution can be avoided, it is imperative not to impose it. If prosecution is unavoidable, then the consideration of restitution should be a crucial factor in determining the punishment, argued lawyer Nghia. He requested that the Court deliberate and consider imposing only a monetary penalty instead of a prison sentence for the offense of market manipulation.
Notably, several lawyers representing Mr. Quyet mentioned the presence of over 5,000 petitions pleading for leniency for the defendant. These petitions were sent by victims, partners, customers, numerous business clubs, and several Provincial People’s Committees from across the country.
Additionally, it was highlighted that the defendant, Mr. Quyet, is in poor health, suffering from Grade 3 heart failure. This condition may qualify him for exemption from criminal liability according to Point b, Clause 2, Article 29 of the Penal Code.
The lawyers at the appeal trial.
During the debate, attorney Nguyen Thi Thu of the Hanoi Bar Association, representing the two defendants, Trinh Thi Minh Hue and Trinh Thi Thuy Nga (Mr. Quyet’s sisters), requested that the Court consider reducing their sentences.
Specifically, she proposed a prison sentence equal to the duration of their detention for the offense of “Fraudulent appropriation of property” and a monetary penalty instead of imprisonment for the offense of “Manipulating the securities market.” Lawyer Thu agreed with the representative of the Prosecution’s viewpoint, commending their spirit of fairness and humanity. However, she urged the Court to further contemplate the specific circumstances of the defendants.
Previously, during the presentation of opinions, the Prosecution recommended that the Court change Mr. Trinh Van Quyet’s sentence from three years in prison to a fine of VND 4 billion for the offense of “Manipulating the securities market.” They also suggested reducing the sentence from 18 years to 7-8 years in prison for the offense of “Fraudulent appropriation of property.”
For the defendants Trinh Thi Minh Hue (sentenced to 14 years in the first instance) and Trinh Thi Thuy Nga (sentenced to 8 years), the Prosecution proposed the imposition of a monetary penalty instead of imprisonment for the offense of “Manipulating the securities market” and a reduction in the prison sentence for the offense of “Fraudulent appropriation of property.”
In addition, the Prosecution recommended leniency for several other defendants who had appealed, appealed late, or submitted petitions for consideration. This included reducing the sentences of former HOSE officials: Tram Tuan Vu (former Deputy General Director) from 5 years and 6 months to 2 years to 2 years and 6 months; Le Hai Tra (former Deputy General Director) from 5 years to 4 years to 4 years and 6 months; and Tran Dac Sinh (former Chairman of the Board of Directors) from 6 years and 6 months to 4 years and 6 months to 5 years.
For Le Cong Dien, the former head of the Public Company Supervision Department of the State Securities Commission, the Prosecution suggested reducing his sentence from 36 months to 18-24 months in prison for the offense of “Disclosure of inaccurate information or concealment of information in securities activities.”
Out of more than 65,000 investors, 530 filed appeals. However, the Prosecution only accepted the appeals related to reducing the sentence for defendant Trinh Van Quyet and his sisters. The rest of the appeals were rejected.
According to the inspector, all damages in the case have been compensated by the defendant, Mr. Quyet. The compensation for investors was calculated based on the time of their stock purchase to determine the loss, so there is no basis for accepting the request for increased compensation.
As the consequences of the case have been remedied, the Prosecution also recommended returning the seized and frozen assets to the defendants during the investigation phase.
Charging the Owner of a Coffee Company
By the time the illegal activities were uncovered, the company had consumed 17,671 kg, equivalent to 35,342 units of ground coffee products, generating a total revenue of nearly 1.3 billion VND.
The Great Land Scandal: Indictment of the Former Deputy County Chief Over ‘Red Book’ Issuance on Public Park-designated Land
“Authorities have taken action against the former deputy chairman of the district and a deputy head of the Department of Agriculture and Environment, following an investigation into the controversial allocation of land designated for a public park. The probe revealed that a 50-year land use certificate was issued to an individual, contravening the area’s designated purpose.”
“Bribery Scandal Taints VPG’s Leadership: Stock Plunges as Chairman’s Spouse Faces Charges”
After nearly 17 years, Vietnam Investment and Import-Export Trading Corporation (HOSE: VPG) unexpectedly appointed a new Chairman of the Board. This leadership change occurs amidst the recent indictment of the company’s founder, Nguyen Van Binh, on bribery charges. As a result, the Board of Directors has named Le Thi Thanh Le, Mr. Binh’s wife, as the new Chairwoman and legal representative of the company, effective June 3rd, 2025.
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.
Why Were Chairman of the Board Nguyễn Đức Nam and CEO Nguyễn Thị Quỳnh Nga Arrested?
“Nam Nguyen, Chairman of Sona Corporation, and four other suspects have been charged and detained for violating accounting regulations, resulting in severe consequences as outlined in Article 221 of the 2015 Penal Code.”
