After the FLC President was arrested in March 2022, his assets, including super-cars and a yacht, were foreclosed by commercial banks and put into auction.

Trinh Van Quyet, the ex-chairman of FLC Group, stood before the court on July 29, delivering a final plea for a second chance while reflecting on his career's ups and downs and the serious repercussions of his actions.

In a significant legal development, the prosecutor has recommended a prison sentence of 24-26 years for the former Chairman of FLC Group, Trinh Van Quyet. The charges include fraud and market manipulation, underscoring the gravity of the case.

Former FLC Group Chairman Trinh Van Quyet, once the wealthiest man on the Vietnamese stock exchange, has declared that his personal assets, now frozen, are worth approximately 5,000 billion VND (over $197.5 million).

In a significant development in the FLC case, former Chairman Trinh Van Quyet and his sister Trinh Thi Minh Hue have admitted to all charges against them.

On the first day of the Trinh Van Quyet trial, only 30 out of 30,403 investors showed up, prompting concerns over how their absence might affect the case and their rights.

The trial of Trinh Van Quyet, former Chairman of FLC Group, and 49 other defendants began this morning, July 22, 2024, at the Hanoi People's Court.

Former FLC Chairman Trinh Van Quyet has paid an additional 23 billion VND ($906,000) towards remedying the consequences of his case.

By ballooning Faros’s capital by VND4.3 trillion and artificially pushing up the ROS share price, Trinh Van Quyet became the richest billionaire on the stock market, and his wife was once listed among the top 10 billionaires.

Trinh Van Quyet, considered the mastermind of a crime with assistance from accomplices, was charged with allegedly falsely inflating FLC stockholder equity from VND1.5 billion to VND4.3 trillion.

Over 200 individuals, including relatives and acquaintances of former FLC Group Chairman Trinh Van Quyet, have been implicated in assisting his criminal activities. However, they will not face trial.

On July 22, the Hanoi People's Court will commence the first-instance trial of former FLC Chairman Trinh Van Quyet, along with 49 other defendants.

The police are searching for Dang Tat Thang, former Chairman and CEO of Bamboo Airways, after receiving allegations of rights infringement against him.

The Supreme People's Procuracy has recently issued an indictment prosecuting 51 defendants in the case of stock market manipulation related to the FLC Group Joint Stock Company.

According to the Ministry of Public Security (MPS), 685 securities investors have made claims for damages that they incurred when trading six FLC-family stocks related to the case of Trinh Van Quyet, who has been found manipulating the stock market.

The Investigation Police Agency has forwarded the file of the case of stock market manipulation related to the FLC Group Joint Stock Company to the Supreme People's Procuracy, recommending the prosecution of 51 defendants in the case.