HANOI: The stock manipulation trial of real estate developer FLC Group JSC’s former chairman Trinh Van Quyet (pic) and 49 other defendants will begin July 22, according to a posting on the government’s website.
Quyet, his sister Trinh Thi Minh Hue, and others are accused of earning an illicit profit of about 723 billion dong (US$28.4 million) by manipulating five stocks, according to the posting.
Some 30,400 investors who bought FLC Faros Construction’s shares are affected by the defendants’ alleged actions, according to the Hanoi People’s Court, the posting said.
Representatives for Quyet, Hue, FLC Group and FLC Faros Construction were not immediately available for comment outside working hours.
Quyet is also the former chairman of Bamboo Airways JSC. - Bloomberg
