Today, Mr. Trinh Van Quyet, Le Hai Tra and 48 defendants appeared in court.
Today (July 22), the Hanoi People's Court brought Mr. Trinh Van Quyet (former Chairman of FLC), Mr. Le Hai Tra (former Deputy General Director of Ho Chi Minh City Stock Exchange) and 48 related defendants to trial under the first instance procedure.
50 defendants were brought to trial for the crimes: ""Fraudulent appropriation of property", "Manipulating the stock market", "Taking advantage of one's position and power while performing official duties" and "Intentionally disclosing false information or concealing information in securities activities".
Before the trial, Mr. Trinh Van Quyet made a special request to his lawyer. Accordingly, the defendant requested that the lawyers not have a defense that directly refuted his actions as concluded in the investigation conclusion and indictment.
The former Chairman of FLC Group has recovered 210 billion VND and about 4,280 people signed a petition to reduce his criminal liability. Among those who submitted a petition to reduce his sentence, there were 88/133 victims.
Defendant Trinh Van Quyet was brought to trial for two crimes: "Fraudulent appropriation of property" and "Stock market manipulation".
The Hanoi Court determined that 30,403 investors who purchased shares (initial sale) of FLC Faros Construction Joint Stock Company (stock code ROS) were victims in the case. Those with related rights and obligations, including more than 63,000 investors holding shares of FLC Faros Construction Joint Stock Company and other people with related rights and obligations, were also summoned by the court.
According to the accusation, Mr. Quyet was the mastermind, decided to direct the purchase of Faros Company; decided and directed to contribute false capital, use false capital to legalize the increase, use false capital contribution of Faros Company from 1.5 billion VND to 4,300 billion VND; registered as a public company, registered securities and listed shares on HOSE, sold more than 391 million ROS shares formed from falsely increased capital contributions to 30,403 investors, appropriating more than 3,621 billion VND.
Defendant Trinh Van Quyet was also the mastermind, decision maker, and director of the opening, management, and use of securities accounts; decided and directed the provision of fake money to accounts managed by defendant Trinh Thi Minh Hue (FLC Group accountant) to manipulate 5 stock codes, illegally profiting more than 723 billion VND. Of which, the defendant must bear criminal responsibility for 4 stock codes, illegally profiting more than 684 billion VND.
In connection with the case, Mr. Le Hai Tra was prosecuted for "Abusing position and power while performing official duties".
The accusation is that Mr. Le Hai Tra knew Mr. Trinh Van Quyet, clearly knowing that there was not enough basis to determine the actual capital contribution of Faros Company as 4,300 billion VND according to the audited financial report and Official Dispatch No. 4298 of the State Securities Commission, but Mr. Tra put pressure on Mr. Doan Vinh Nam (research and appraisal specialist) to propose approving the listing dossier of Faros Company while there was not enough basis to determine the capital contribution, use of capital and the ability to recover the investment trusts of Faros Company.
As a member of the Listing Council, Mr. Le Hai Tra signed the consent form to list Faros Company's shares. As Deputy General Director of Hose, Mr. Tra held a meeting of the Board of Directors and agreed to list Faros Company's shares illegally.
Mr. Le Hai Tra's actions helped and created conditions for ROS shares to be listed on the stock exchange, from which Mr. Trinh Van Quyet sold shares to appropriate investors' money.
50 defendants were brought to trial:
1. Trinh Van Quyet (former Chairman of FLC Group)
2. Trinh Minh Hue (General Accountant of FLC Group)
3. Trinh Thuy Nga (General Accountant of FLC Group; Member of Board of Directors and Deputy General Director of BOS Securities JSC)
4. Huong Tran Kieu Dung (Permanent Vice President of FLC Group, Chairman of the Board of Directors of BOS Company)
5. Nguyen Thien Phu (General Accountant of FLC Group, Deputy General Director of Faros Company)
6. Nguyen Quynh Anh (General Director of BOS Company)
7. Nguyen Thi Thanh Huong (Head of Securities Services Department, BOS Company)
8. Nguyen Thi Thu Thom (Deputy Head of Securities Services Department, BOS Company)
9. Bui Ngoc Tu (Deputy Head of Securities Services Department, BOS Company)
10. Tran Thi Lan (Chief Accountant of BOS Company)
11. Quach Thi Xuan Thu (Chief Accountant of BOS Company)
12. Trinh Van Dai (Deputy General Director of Faros Company)
13. Nguyen Van Manh (Head of Landscape Materials Group, Purchasing and Supply Department, FLC Land Company)
14. Trinh Van Nam (employee of Tre Viet Aviation Joint Stock Company)
15. Nguyen Quang Trung (driver of Ha Thanh General Hospital)
16. Nguyen Thi Hong Dung (freelance worker)
17. Trinh Thi Thanh Huyen (employee of FLC Homes Real Estate Investment and Development Joint Stock Company)
18. Trinh Tuan (former Director of FLC Land Company)
19. Nguyen Thi Nga (specialist of FLC Digital Trading and Services Joint Stock Company)
20. Hoang Thi Hue (specialist of FLC Digital Trading and Services Joint Stock Company)
21. Do Thi Huyen Trang (Deputy Head of Accounting Department, FLC Group Corporation)
22. Do Nhu Tuan (former General Director of Faros Company)
23. Dam Mai Huong (former Chief Accountant of Faros Company)
24. Nguyen Van Thanh (former Head of the Board of Supervisors of Faros Company)
25. Hoang Thi Nhu Ha (accountant of FLC Land Company)
26. Tran The Anh (Deputy General Director of FLC Group, former Deputy General Director of Faros Company)
27. Do Quang Lam (Director of Kien Giang Housing Development Joint Stock Company; former General Director, legal representative of Faros Company)
28. Nguyen Thanh Binh (former Member of the Board of Directors and Deputy General Director of FLC Group)
29. Le Thanh Vinh (Lawyer, Director of T&P Law Firm LLC; former Chairman of the Board of Directors of Faros Company)
30. Nguyen Tien Dung (former General Director, legal representative of Vinh Ha Construction and Investment Joint Stock Company)
31. Le Tan Son (former Deputy Chief of Office, Secretary of the Board of Directors of FLC Group)
32. Dang Thi Hong (former Deputy Chief of Office, Secretary of the Board of Directors of FLC Group)
33. Le Van Sac (Chairman of the Board of Directors of Alaska Real Estate Investment Joint Stock Company, and Director of FLC Land Company)
34. Truong Van Tai (office staff of FLC Group)
35. Nguyen Binh Phuong (former Chairman of the Board of Directors of Faros Company)
36. Nguyen Minh Diem (HR administrative staff of BOS Company)
37. Nguyen Ngoc Tinh (Chairman of the Board of Directors, former General Director of Hanoi Auditing and Accounting Company I - CPA)
38. Le Van Tuan (Auditor of Hanoi Auditing and Accounting Company Limited - CPA)
39. Tran Dac Sinh (former Chairman of the Board of Directors of Ho Chi Minh City Stock Exchange)
40. Le Hai Tra (former Deputy General Director of Ho Chi Minh City Stock Exchange)
41. Tram Tuan Vu (former Deputy General Director of Ho Chi Minh City Stock Exchange)
42. Le Thi Tuyet Hang (Director of Transaction Supervision Department, former Director of Listing Management and Appraisal Department, Ho Chi Minh City Stock Exchange)
43. Chu Tien Vuong (former Permanent Vice Chairman of the Board of Directors of BOS Company)
44. Trinh Thi Ut Xuan (employee of FLC Digital Trading and Services Joint Stock Company)
45. Pham Thanh Huong (Accountant of Sevin Investment Company Limited)
46. Pham Thi Hai Ninh (former Deputy Head of Investment Department, FLC Group)
47. Tran Thi Hanh (Deputy General Director of TTP Auditing Company Limited)
48. Le Cong Dien (Director of Public Company Supervision Department, State Securities Commission)
49. Duong Van Thanh (General Director of Vietnam Securities Depository)
50. Pham Trung Minh (former Head of Securities Registration Department, Vietnam Securities Depository)
