Trinh Van Quyet was arrested, searched 21 working locations

After the decision to ban exit, on the evening of March 29, the investigating agency detained the accused Trinh Van Quyet to investigate the behavior of manipulating the stock market.

On the evening of March 28, according to a source from VOV.VN, the Investigation Agency of the Ministry of Public Security issued a decision to suspend the exit of Mr. Trinh Van Quyet (SN 1975), Chairman of the Board of Directors of FLC Group and Chairman of the airline. not Bamboo Airways from March 26 to the end of April 25.

In addition, the authorities have also invited Mr. Trinh Van Quyet to work on some issues related to manipulating the stock market.

After more than a day of information that Mr. Trinh Van Quyet was banned from leaving the country, on the evening of March 29, according to Tuoi Tre Online, Lieutenant General To An Xo, Chief of the Office of the Ministry of Public Security confirmed to Tuoi Tre that the investigation agency had temporarily arrested him. detained defendant Trinh Van Quyet to investigate acts of manipulating the stock market, causing serious damage to investors and affecting the operation of Vietnam's stock market.

Accordingly, the Investigative Police Agency of the Ministry of Public Security (C01) has investigated and verified Trinh Van Quyet, Chairman of FLC Group; individuals under FLC Group Joint Stock Company, BOS Securities Joint Stock Company and related companies about the act of "Manipulating the stock market", "Concealing information in securities activities" that occurred on January 10, 2022, causing serious damage to investors, affecting the operation of Vietnam's stock market.

In addition to arresting Mr. Trinh Van Quyet, the investigating agency also ordered a search of the residence and workplace at 21 locations of FLC chairman Trinh Van Quyet to serve the investigation.

At the same time, the Supreme People's Procuracy approved the above decisions and orders.

Previously, in January 2022, the "underground sale" of Mr. Trinh Van Quyet's shares caused a stir in public opinion. Specifically, on January 10, the Chairman of FLC sold 74.8 million FLC shares but did not report or disclose information before performing the transaction.

After the incident, the stocks related to Mr. Quyet and FLC wobbled and were continuously "selling off". At the same time, dozens of other securities codes were also "contaminated" and many investors suffered great losses.

The State Securities Commission has frozen Mr. Quyet's securities assets and suspended securities trading activities for 5 months. At the same time, the State Securities Commission issued a decision to administratively sanction Mr. Trinh Van Quyet - Chairman of the Board of Directors of FLC Group and Chairman of Bamboo Airways, 1.5 billion VND, the highest level according to regulations.

This is the second time that the president of FLC has received a fine from the State Securities Commission. Previously, in November 2017, Mr. Quyet was fined 65 million VND for selling 57 million FLC shares but did not report to the market regulator.

Also in 2017, FLC Faros Construction Joint Stock Company (ROS), chaired by Mr. Trinh Van Quyet, was also fined for illegally selling more than 13.69 million AMD (AMD Group Mineral and Investment JSC). At that time, if ROS bought back AMD shares, it could collect more than 136 billion dong, but the penalty was only 130 million dong.

Trinh Van Quyet, born in 1975, is the Chairman of the Board of Directors of FLC Group Joint Stock Company and the Chairman of Bamboo Airways. Asset value was once estimated at 22.7 trillion VND, equivalent to 1.02 billion USD. Although Mr. Trinh Van Quyet owns nearly 2 billion USD on the Vietnamese stock exchange, he is not recognized by Forbes as a USD billionaire and is still monitoring and evaluating this number of assets.

As of December 31, 2019, with the value of shares held in many enterprises such as FLC, GAB, Bamboo Airways and FLC Homes, the total market capitalization of Mr. Trinh Van Quyet is estimated at over VND 20.5 trillion, standing 3 in the ranking of the richest people in Vietnam stock market 2019.

As of January 2022, the Chairman of FLC owned more than 215 million FLC shares (equivalent to about 30% of capital) and tens of millions of shares in member companies.

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