HCMC – Trinh Van Quyet, former chairman of FLC Group, had his prison sentence reduced to seven years after the court acknowledged his overpayment of compensation and multiple mitigating factors.
The High People’s Court in Hanoi delivered its verdict on the morning of June 26, ruling on the appeals for reduced sentences filed by Trinh Van Quyet, his two siblings, and 22 other defendants.
The court sentenced Trinh Van Quyet to seven years in prison for asset misappropriation, down from 18 years in the first-instance trial, and upheld a fine of VND4 billion for stock market manipulation, originally sentenced with a three-year prison term.
In total, the former FLC chairman had his prison term cut by 14 years from the original 21-year sentence handed down in the first-instance trial.
The court cited several new mitigating factors in Trinh Van Quyet’s case, including his deteriorating health condition, reportedly with a high risk of death, and the fact that he is currently undergoing hospital treatment.
He has overcompensated for the damages by more than VND20 billion, bringing the total amount of restitution to VND1.886 trillion. More than 100 victims and over 5,000 petitions from individuals and organizations requested leniency on his behalf.
The appellate court also recognized new mitigating factors for Trinh Van Quyet’s two younger sisters, reducing their sentences. Their prison terms for stock market manipulation were converted to fines, and their sentences for fraud were lowered.
Specifically, Trinh Thi Minh Hue was fined VND3.5 billion and sentenced to 4 years and 6 months in prison, down from the original 14-year sentence for two charges. Trinh Thi Thuy Nga received a VND3 billion fine and had her prison term for asset misappropriation reduced to time served, 38 months and 21 days, compared to the original 8-year sentence.
