Two others involved in stock market manipulation case detained
The Ministry of Public Security’s Investigation Police Agency on April 8 launched criminal proceedings against and detained two other suspects for assisting Trinh Van Quyet, former Chairman of the FLC Group JSC, in manipulating the stock market.
Functional forces seal and seize documents at the FLC headquarters. (Photo: VNA)
Hanoi (VNA) - The Ministry of Public Security’s InvestigationPolice Agency on April 8 launched criminal proceedings against and detained two other suspects for assisting Trinh Van Quyet, former Chairman of the FLC Group JSC, in manipulating the stockmarket.
The arrestees are Huong Tran Kieu Dung, Permanent Vice Chairwoman of the FLC Group and Chairwoman ofthe BOS Securities JSC, and Nguyen Quynh Anh, General Director of the BOSSecurities JSC.
The Supreme People's Procuracy approved the decisionsand procedural orders in accordance with the law.
Earlier, the Investigation Police Agency also launched criminal proceedingsagainst and detained Quyet, and two accomplices,Trinh Thi Mai Hue and Trinh Thi Thuy Nga in service of the investigation on the charge of stock market manipulation. Hue and Nga are youngersisters of Quyet.
On January 10, Quyet sold 74.8 million FLC shareswithout any reports and notifications in advance as stipulated in regulations,triggering public concern and pushing the stock market into chaos.
The State Securities Commission of Vietnam (SSC) immediately decided to blockQuyet’s securities accounts to prevent him from committing other illegal acts.
The SSC also asked the Ho Chi Minh City Stock Exchange (HoSE) to cancel thetransactions of the 74.8 million FLC shares. Many investors were refunded.
On January 18, it issued another decision under which Quyet was fined 1.5billion VND (65,600 USD), the heaviest penalty in line with regulations, andbanned him from stock trading activities for five months.
It was the second time that Quyet was fined by the SSC for the same offence. In2017, he was fined 65 million VND for selling 57 million FLC shares withoutproper notice./.
The Ministry of Public Security's Investigation Police Agency on March 29 decided to launch criminal proceedings against and arrest Trinh Van Quyet, Chairman of the FLC Group Joint Stock Company, pending investigations into suspicion of stock market manipulation.
The Ministry of Public Security has decided to launch criminal proceedings against and detain Trinh Thi Minh Hue, a member of FLC Group JSC's accounting department, for assisting Trinh Van Quyet, former Chairman of the company, on the charge of stock market manipulation.
Any act that aims at manipulating the stock and corporate bond markets to gain illicit profits will be punished strictly, according to the Ministry of Finance.
The Investigation Police Agency under the Ministry of Public Security, on April 8, sent a document to eight banks requesting them to provide information to serve the investigation of the act of stock market manipulation against Trinh Van Quyet, Chairman of FLC Group Joint Stock Company.
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Functional forces seal and seize documents at the FLC headquarters. (Photo: VNA) 
