HCMC – The Investigation Police Agency (C01) under the Ministry of Public Security has asked eight banks to provide documents on the bank account opening, payments, savings, loans and account statements of former chairman of FLC Group Trinh Van Quyet since 2016.
The eight banks comprise the Bank for Foreign Trade of Vietnam (Vietcombank), the Vietnam Technological and Commercial Joint Stock Bank (Techcombank), the Saigon Thuong Tin Commercial Joint Stock Bank (Sacombank), the Vietnam Prosperity Joint Stock Commercial Bank (VPbank), the Bank for Investment and Development of Vietnam (BIDV), the Vietnam International Commercial Joint Stock Bank (VIB), the Saigon Hanoi Commercial Joint Stock Bank (SHB) and the National Citizen Bank (NCB).
The request came as the police are continuing the investigatipon of the alleged stock market manipulation at FLC Group, BOS Securities Corporation and other affiliated businesses, the local media reported.
C01 also asked the eight banks to provide the same information regarding the two younger sisters of Quyet — Trinh Thi Thuy Nga, deputy general director of FLC-affiliated BOS Securities Corporation, and Trinh Thi Minh Hue, a member of the accounting board of FLC Group — as well as FLC vice chairwoman Huong Tran Kieu Dung, FLC general director Bui Hai Huyen, BOS general director Nguyen Quynh Anh, FLC’s affiliates and BOS Securities Corporation.
In late March, Quyet, Hue and Nga were detained on alleged charges of stock market manipulation.
According to C01, their practices have left negative impact on stock investors and the normal operation of the stock market.
From December 1 last year to January 10 this year, Quyet directed leaders of BOS Securities Corporation and FLC’s affiliates and satellite companies to use 20 stock trading accounts of 11 units to continuously buy and sell FLC shares, thus sending the stock price surging from VND14,650 to VND24,000.
When FLC reached its ceiling price, Quyet directed the sale of 175 million FLC shares, but 74.8 million shares were matched at VND22,586 each. However, Quyet did not disclose information prior to transaction as required by law.
The Hochiminh Stock Exchange later canceled the FLC chairman’s sale of 74.8 million FLC shares.