Vietnam lifts asset freeze on ex-FLC chairman Trinh Van Quyet
Authorities in Vietnam’s central province of Khanh Hoa are moving to lift restrictions on asset transactions and transfers linked to Trinh Van Quyet, former chairman of property developer FLC Group, the provincial Department of Justice said on Tuesday.
The move follows an August 12 directive from the Ministry of Public Security’s investigative agency, which accepted a petition to remove restrictions on assets including real estate, shares, and equity previously placed under a freeze order in April 2022.
Former FLC chairman Trinh Van Quyet at the first instance trial. Photo courtesy of Tuoi Tre (Youth) newspaper.
Trinh Van Quyet was arrested in 2022 and later convicted of stock market manipulation, fraud and abuse of power in connection with FLC, BOS Securities, Faros Construction, and related entities.
On June 26, 2025, under a Hanoi appeal court ruling, Quyet saw his prison sentence decreased from 21 years to 7 years for "fraudulent appropriation of property", while receiving a fine of VND4 billion ($153,000) for "stock market manipulation".
One of the conditions for the sentence reduction was defendant Quyet and his two sisters, Trinh Thi Minh Hue and Trinh Thi Thuy Nga, had handed over the entire amount of money embezzled, a total of VND2,467 billion ($94.39 million), to the state and paid a surplus of over VND46 billion ($1.76 million). The court subsequently annulled the asset freeze order.
With the verdict now legally effective, the Ministry of Public Security asked authorities of cities and provinces to lift the restrictions to safeguard the legal rights of Quyet and related parties.
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