Vietnam police seek prosecution of 51 people as major stock manipulation probe ends

HANOI (Bloomberg): Vietnamese police are seeking prosecution of the former chairman of real estate developer FLC Group JSC and 50 others, after authorities completed an extended probe into a stock manipulation case.

Trinh Van Quyet, his sister Trinh Thi Minh Hue and others were accused of earning an illicit profit of about 723.3b dong ($29.4 million) between May 2017 and January 2022 by manipulating five stocks including FLC Stone Mining & Investment, FLC Mining Investment & Asset Management and FLC Group, according to a statement from the Ministry of Public Security.