HCMC bourse leaders complicit in real estate tycoon’s $144 mln fraud: prosecutors

HCMC bourse leaders complicit in real estate tycoon’s $144 mln fraud: prosecutors

Former Ho Chi Minh Stock Exchange (HoSE) chairman Tran Dac Sinh and subordinates enabled former FLC Group chairman Trinh Van Quyet misappropriate VND3.6 trillion ($144.3 million) from investors, prosecutors said Tuesday.

Society - Mon, Dec 22, 2021 | 11:30 am GMT+7

Ministry of Public Security rejects rumors on Sacombank chairman’s exit ban

Ministry of Public Security rejects rumors on Sacombank chairman’s exit ban

Vietnam’s Ministry of Public Security has rejected rumors that chairman of Ho Chi Minh City-based Sacombank Duong Cong Minh has been banned from leaving the country which led to the dumping of the bank’s shares on Tuesday.

Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7

State Securities Commission official turns blind eye to FLC chairman’s violations for fear of job loss

State Securities Commission official turns blind eye to FLC chairman’s violations for fear of job loss

State Securities Commission (SSC) official Le Cong Dien has admitted he spotted multiple problems while checking the capacity profile of Faros Construction JSC - a member of FLC Group - but did not dare to reject its listing application as he was afraid his job could be affected.

Society - Mon, Dec 22, 2021 | 11:30 am GMT+7

HCMC bourse leaders complicit with FLC chairman appropriating $146 mln

HCMC bourse leaders complicit with FLC chairman appropriating $146 mln

Former chairman of the Ho Chi Minh City Stock Exchange (HoSE) Tran Dac Sinh and three other officials helped then chairman of real estate developer FLC Group Trinh Van Quyet to list shares on the bourse, appropriating VND3.6 trillion ($146 million) from investors.

Society - Mon, Dec 22, 2021 | 11:30 am GMT+7

Seven officials accused of helping former FLC chairman manipulate stock market

Seven officials accused of helping former FLC chairman manipulate stock market

Seven officials have been accused of assisting Trinh Van Quyet, former chairman of real estate developer FLC Group, in manipulating stocks, said the Ministry of Public Security’s investigation agency (C01) on Saturday.

Society - Mon, Dec 22, 2021 | 11:30 am GMT+7

Vietnam gov’t urges six agencies to help Bamboo Airways stay afloat

Vietnam gov’t urges six agencies to help Bamboo Airways stay afloat

Deputy Prime Minister Le Minh Khai has asked six government agencies to support Bamboo Airways to overcome its hardships and successfully restructure its operations.

Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7

15 under house arrest as stock manipulation probe expands

15 under house arrest as stock manipulation probe expands

The Ministry of Public Security's investigative agency placed 15 people under house arrest Friday for suspected involvement in the stock market manipulation scam related to former FLC Group chairman Trinh Van Quyet.

Society - Mon, Dec 22, 2021 | 11:30 am GMT+7

New investor to take over Bamboo Airways

New investor to take over Bamboo Airways

Bamboo Airways, a subsidiary of Vietnamese private firm FLC, has found a new investor to replace former FLC chairman Trinh Van Quyet and other shareholders, according to CEO Nguyen Manh Quan.

Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7

FLC shares suspended from trading on unlisted public company market 

FLC shares suspended from trading on unlisted public company market 

The Hanoi Stock Exchange (HNX) on Friday approved the registration of FLC Group on the unlisted public company market (UPCoM), but included it on a list suspended from trading.

Finance - Mon, Dec 22, 2021 | 11:30 am GMT+7

12-year journey of FLC 'empire'

12-year journey of FLC 'empire'

FLC of FLC Group JSC, one of the stocks bringing the most emotions to investors, has officially closed its 12-year journey in the Vietnamese stock market.

Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7

BIDV seizes luxurious Rolls-Royce of ex FLC chairman to offset debts

BIDV seizes luxurious Rolls-Royce of ex FLC chairman to offset debts

BIDV bank announced Saturday it had seized the golden plated Rolls-Royce Ghost of Trinh Van Quyet, former chairman of FLC Group, to offset the debts that subsidiary FLC Faros owes the bank.

Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7

Former FLC chairman investigated for fraudulent appropriation of assets

Former FLC chairman investigated for fraudulent appropriation of assets

Former chairman of FLC Group Trinh Van Quyet and his two sisters are being investigated over alleged fraudulent appropriation of assets on the local bourse.

Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7

FLC investment projects aborted en masse after arrest of group chairman

FLC investment projects aborted en masse after arrest of group chairman

Many provinces in Vietnam have terminated FLC Group's investment projects over delays after the arrest of its former chairman Trinh Van Quyet for alleged stock market manipulation.

Real Estate - Mon, Dec 22, 2021 | 11:30 am GMT+7

Former FLC chairman earns $42 mln from market manipulation: police

Former FLC chairman earns $42 mln from market manipulation: police

Trinh Van Quyet, then chairman of FLC Group, asked his sister to open 450 accounts at 41 securities companies to manipulate the stock market, illegally earning VND975 billion ($42 million), initial investigation results show.

Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7

Police request freezing former FLC chairman’s assets

Police request freezing former FLC chairman’s assets

The Ministry of Public Security has requested localities to freeze assets and shares owned by former FLC Chairman Trinh Van Quyet who was recently arrested for alleged stock market manipulation.

Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7

Property developer FLC chairman arrested for bourse manipulation

Property developer FLC chairman arrested for bourse manipulation

Trinh Van Quyet, Chairman of FLC Group, one of Vietnam's leading real estate developers, was arrested on Tuesday on charges of “manipulating” and “concealing information in securities activities”.

Society - Mon, Dec 22, 2021 | 11:30 am GMT+7

Real estate major FLC chairman suspended from country exit

Real estate major FLC chairman suspended from country exit

Trinh Van Quyet, chairman of FLC Group, one of Vietnam’s leading real estate developers, was suspended from leaving the country for a month, an indication that he is under investigation.

Society - Mon, Dec 22, 2021 | 11:30 am GMT+7