Who is Trinh Van Quyet - the No. 1 billionaire on the stock exchange who was "whispered" twice for "underselling" stocks?

Born in poverty, but Mr. Trinh Van Quyet has risen to become a billionaire, at one point, he was the richest man on the Vietnamese stock exchange.

Chairman of FLC Group - Mr. Trinh Van Quyet is still known as a successful businessman, a famous billionaire in the real estate world. But it comes with a lot of noise, especially related to the controversial stock sale in recent days.

Mr. Trinh Van Quyet was born on November 27, 1975 in Vinh Thinh - Vinh Tuong - Vinh Phuc. He was born in a family of intellectuals, both of his parents worked in the state, so from a young age he was carefully raised. He decided to enter Hanoi Law University after 2 years of graduating from high school.

He also shared, his life from the beginning was not very smooth, so he went to Saigon to study and work as an electronics repairman. After contributing a small amount of capital, they can continue to realize their dreams with their studies. Studying and working is a great pressure for someone who has just turned 18, but his will and determination have helped him conquer his dream.

At the age of 24, in addition to a bachelor's degree from Hanoi Law University, Mr. Trinh Van Quyet completed his studies at the National Academy of Public Administration. For him, learning is always the shortest way to the door to success.

With the experience and knowledge accumulated during his study and training at 2 big universities, Mr. Quyet was more confident when he opened a law consulting office. In 2008, SmiC Investment Consulting Company was established with consulting services on corporate law, corporate intellectual property law and investment law,...

Over 15 years of establishment and development, SmiC's reputation has reached the international level, won many awards, titles and certificates of merit from the Ministry of Justice. Mr. Quyet personally also entered the list of 1 of 5 Vietnamese lawyers honored as "Typical Lawyer".

The chance that made him turn his business investment into the real estate field was also thanks to his work as a law consultant. In the process of building and developing SmiC company, Mr. Quyet has created many good relationships and got to know business customers in this field in Hanoi. Thanks to the advantage of understanding the law and the process of constantly learning to better understand how to consult, he has realized the great potential of the real estate market.

Deciding to invest firmly after carefully researching information is what helped him to have success in the first projects. After having experience with market challenges, he established Truong Phu Fortune Investment Co., Ltd. Later, the company changed its name to FLC Group Joint Stock Company. This is also a milestone marking his career on the fast-growing momentum.

FLC is built with the system of eco-tourism resorts with the most advanced level. Typically, the golf course project FLC Sam Son in Thanh Hoa and FLC Quy Nhon in Binh Dinh province. In addition, FLC also executes many other projects with fast construction progress, large scale and great resonance in the business and investment markets.

At the moment, he is known as the No. 1 billionaire on the stock exchange, with an estimated asset value of VND 22.7 billion ($1.02 billion). With the achievements achieved in the resort and airline real estate markets, the image of the businessman of a large corporation often appears densely in newspapers and media.

However, Mr. Quyet has caused a stir in public opinion twice when he "sold out" shares.

Specifically, Mr. Trinh Van Quyet, Chairman of the Board of Directors of FLC Group Joint Stock Company, sold 74.8 million FLC shares on 10.1 but did not report or disclose information before carrying out the transaction according to regulations.

It is estimated that with the transaction price in this session, Mr. Quyet has collected more than 1,795 billion VND. Meanwhile, if left to session 11.1 with the floor price of 19,700 dong/share, the chairman of FLC only earned more than 1,473 billion dong. Thus, the sale of this "underground" stock helped Mr. Trinh Van Quyet quickly pocket the difference of more than 322 billion dong. Right after that, the accounts in Mr. Trinh Van Quyet's name were blocked and the Ho Chi Minh City Stock Exchange (HoSE) also canceled the sale of 74.8 million FLC shares on January 10.

On the afternoon of January 13, Dr. Nguyen Son, Chairman of the Board of Directors of the Vietnam Securities Depository Center, said that by the afternoon of January 12, basically the work of dissecting and canceling the transaction results of selling 74.8 million shares. Mr. Trinh Van Quyet's FLC vote on January 10. Many investors have been returned the reciprocal money to buy these shares.

The next story about when Mr. Quyet's account will be unblocked and whether to trade the rest of the total 175 million shares registered for sale or not will have to wait for the authorities to consider and make a decision. intended to be handled.

This is not the first time Mr. Trinh Van Quyet has sold "underground" shares. Despite being the top leader of FLC Group, in 2017, Mr. Quyet also sold 57 million shares "undercover" but did not announce it in advance according to regulations. At that time, the State Securities Commission imposed an administrative penalty on Mr. Quyet 65 million dong for this violation. At the same time, FLC Faros Construction Joint Stock Company (ROS - chaired by Mr. Trinh Van Quyet) was also fined 130 million dong for the act of planning to sell more than 13.6 million shares of the joint stock company. AMD Group (AMD) minerals and investments but did not report. This administrative penalty is too small compared to the profit earned.

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