Ai
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Update on the arrest of securities tycoon Trinh
Van Quyet.
Well, on the evening of March 29, the Ministry of Public Security
decided to prosecute and temporarily detain Mr.
Trinh Van Quyet, chairman of the board of
directors of the joint stock company. FLC Group Mr.
Quyet was determined to have committed
illegal acts to manipulate
stock prices and illegally sell 70 4.8 million
FLC shares on January 10, 2002,
causing serious losses to investors.
Not only did the investor decide to influence the operations of the Vietnamese stock market,
but the Ministry of Public Security also conducted an
investigation with individuals belonging to
FLC Group, iOS Securities Joint Stock Company and
related companies because of two reasons: Acts of
manipulating the stock market and
concealing information in securities activities
on the evening of the same day, a large number of
police were simultaneously present and searched the
FLC headquarters on Cau Giay Street and
Mr. Quyet's villa in the urban area. My Dinh 2 town,
Hanoi, at the scene where a car with a blue license plate appeared, a
number of curious people stopped to
film and take photos. At the same time, the
investigation agency also organized a search. 21 The
location was the suspect's workplace.
According to Article 21 of the
Penal Code No. 100 2015, Mr. Trinh Van Quyet
can face a maximum sentence of up
to 7 years in prison related to the incident where
FLC Group has officially stated that they are
not involved. Regarding the illegal sale of shares
by the chairman of the board of directors, the
incident did not affect or change the
important directions of FLC nor did it
affect the rights and interests
of customers, shareholders and partners of the
group. This group,
Mr. Quyet also authorized Ms. Vu Dang
Hai Yen, Deputy General Director of
FLC Group to represent and represent him in
carrying out the tasks of the Chairman of
FLC Group and Bely Chairman
32 Yen was also authorized. All
financial-related rights from
one day earlier on March 28,
but naturally, the money had already been paid. The
FLC Chairman was decided by the authorities to
suspend his exit for a month for
investigation, and in January This year, the
State Securities Commission received a report
from the
Ho Chi Minh City Stock Exchange about Mr. Trinh Van Quyet's
transaction of selling nearly 75 million shares of
FLC Group but not disclosing the
information before the transaction.
Immediately after that, the State Securities Commission
blocked his securities account
and directed the
Ho Chi Minh City Stock Exchange to cancel the
illegal sale of his shares on
January 18. 1 Mr. Trinh Van Quyet was
administratively fined 1.5 billion VND and suspended from
stock trading activities for
five months according to Online customs newspaper talking about the
consequences for the stock market Mr.
Huynh Anh Tuan, general director of the company
East Asia Securities said that
business leaders selling a large amount of
shares without reporting causes
panic to investors because they do not
clearly understand the information of the business.
Investors will easily deduce that the
business has problems and a series of investors
will sell off its shares, leading to a
decline in stock prices. If this business
is located in an ecosystem, then almost
all other stocks in
that ecosystem will be affected. Not only that,
investors also have to face the risk
that stocks will be
cut off from margin loans by securities companies and sold. Clearing mortgages,
then the loss to investors is
extremely large. Thank you. Thank you for listening to the
quick news of natural health, we will
continue to update to send you the
latest information. Hello
and see you again
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