Mr. Trinh Van Quyet is entitled to annul the administrative sanction decision

C03 has written to request the committee to cancel the decision No. 34 sanctioning administrative violations against Mr. Trinh Van Quyet.

Lieutenant General To An Xo, Chief of the Office of the Ministry of Public Security on the afternoon of April 5, confirmed that on April 5, Ms. Trinh Thi Thuy Nga (sister of FLC Chairman Trinh Van Quyet) was prosecuted and arrested by the Investigation Police Agency. detained for investigation of stock market manipulation. The investigative police agency determined that Ms. Nga was an accomplice, helping her brother Trinh Van Quyet to manipulate the stock market.

Recently, the State Securities Commission has just issued a notice to cancel the decision on sanctioning administrative violations No. 34 dated January 18, 2022 for Mr. Trinh Van Quyet - Chairman of the Board of Directors of FLC Group (now Mr. Dang Tat Thang replaced this position, after Mr. Quyet was arrested to investigate securities manipulation).

The content of Decision 34 is an administrative fine of VND 1.5 billion and a 5-month suspension of trading for Mr. Trinh Van Quyet for "under-selling" 74.8 million FLC shares. According to the committee, the reason for canceling the above sanctioning decision is because on March 29, the Investigative Police Agency of the Ministry of Public Security (C03) issued a decision to prosecute a criminal case, prosecute the accused, and make temporary arrests. Mr. Trinh Van Quyet detained.

C03 sent a written request to the committee to annul Decision No. 34 sanctioning administrative violations against Mr. Trinh Van Quyet (based on Article 4 of the 2015 Penal Code; Articles 5 and 168 of the Criminal Procedure Code. 2015, Clause 3, Article 62 of the Law on Handling of Administrative Violations; Point g, Clause 1, Article 13 of Decree No. 118/2021 of the Government detailing a number of articles and measures to implement the Law on Handling of Administrative Violations) .

Also on the same day, the Securities Commission announced the decision to sanction administrative violations in the field of securities and the stock market for Ms. Huong Tran Kieu Dung - a member of the board of directors of FLC Group Joint Stock Company. Thanh Xuan, Hanoi) - for administrative violations in the field of securities and the stock market.

Specifically, according to regulations, a member of the board of directors of a public company cannot concurrently be a member of the board of directors at more than 5 other companies. However, in the period from May 2020 to October 2021, Ms. Huong Tran Kieu Dung was a member of the board of directors of FLC Group, and held this position at 6 other companies.

In this case, the committee fined Ms. Dung 70 million dong, applying the extenuating circumstance "the administrative violator has voluntarily remedied the consequences".

The authorities determined that from December 1, 2021 to January 10, Mr. Trinh Van Quyet directed individuals with family or close relationships to run the staff of BOS Securities Joint Stock Company (Security Securities Company). BOS) and its subsidiaries, satellite companies use 20 securities accounts of 11 organizations to collude with each other to continuously buy and sell securities with great frequency.

The purpose is to create fake supply and demand, pushing the price of FLC securities from 14,650 VND/share on December 1, 2021 to the highest price of 24,050 VND/share (average is 22,586 VND/share, up 64%) .

After that, Mr. Quyet assigned his family members to place an order to sell 175 million FLC shares and matched the order to sell 74.8 million FLC shares at the price of 22,586/share but did not disclose information before trading. , with the amount of VND 1,689 billion, illegally obtained an amount of about VND 530 billion.

The authorities identified Mr. Quyet and individuals from FLC Group Joint Stock Company, BOS Securities Joint Stock Company and companies involved in the stock market manipulation case, concealing information in securities activities that occurred. issued on January 10, causing serious damage to investors and affecting the operation of Vietnam's stock market.

The State Securities Commission has also requested FLC to disclose information in accordance with regulations, and at the same time recommended investors to calm down, analyze and fully recognize the macro factors and actual operations of enterprises to be cautious. in investment decisions.

Ông Trịnh Văn Quyết bị "bế", tập đoàn FLC báo lỗ ròng 466 tỷ đồng Rosé14:24:26 01/05/2022Tuy nhiên, ban lãnh đạo FLC cho biết các mảng kinh doanh của tập đoàn đã có dấu hiệu khởi sắc trở lại từ cuối quý I