The gold-plated Rolls Royce and luxury yacht that belonged to billionaire Trinh Van Quyet, who has been arrested for stock market manipulation, remain unsold after two auctions.

The Ministry of Public Security on August 25 launched criminal proceedings against Trinh Van Quyet, former Chairman of FLC Group, and three others on a charge of fraudulent appropriation of property.

Trinh Thi Thuy Nga, the sister of former FLC Group CEO Trinh Van Quyet, has been arrested by the Police Investigation Agency in a stock market manipulation case.

The cash flow into stocks of big companies is being strictly supervised.

The police decided to launch criminal proceedings against and detain Trinh Thi Minh Hue, a member of FLC Group's accounting department, for assisting Trinh Van Quyet on the charge of stock market manipulation.

Tran Kinh Doanh has resigned from his post on the board of directors of Mobile World (MWG), a major retailer.

Although the current Securities Law includes severe penalties, the number of stock price manipulation cases is increasing, causing great damage to the market and frustration for investors.

Violations by the 2015-2020 State Securities Commission (SSC) Party Committee and its officials were found to have significant implications,

Many stock market manipulation cases have been discovered, and violators have been heavily punished in an effort to make the market more transparent.

Among FLC-family shares, ROS shares saw the stock assets of FLC Chair Trinh Van Quyet climb to a peak and then fall.

On March 30, the Civil Aviation Authority of Vietnam had an urgent meeting with Bamboo Airways’ leaders following the arrest of Trinh Van Quyet, Chair of FLC Group and Chair of Bamboo Airways, who has been charged with stock market manipulation.

Property developer FLC Group announced on March 31 that Dang Tat Thang will be chairman of the group and Bamboo Airways until a new decision from shareholders' meeting and the board of directors.

High-profile FLC Group chairman Trinh Van Quyet would have enjoyed illicit perks worth over VND530 billion if his sale of 74.8 million FLC shares had not been cancelled in January for his failure to disclose information prior to the transaction.

In 2019, the Hanoi People's Court for the first time put a case of stock price manipulation to trial. Since then, many businessmen have had to pay a heavy price for their market manipulation.

The FLC ecosystem is not large in scale and has a small influence on the market. Bamboo Airways of FLC has insignificant impact, but it has been operating effectively.

After the Ministry of Public Security issued a decision to prosecute Mr. Trinh Van Quyet, Chairman of FLC Group yesterday, Quyet authorized Deputy General Director Vu Dang Hai Yen to replace his position in the group.

The Ministry of Public Security's Investigation Police Agency on March 29 decided to launch criminal proceedings against and arrest Trinh Van Quyet, Chairman of the FLC Group, pending investigations into suspicion of stock market manipulation.

There is no official info on a travel ban imposed on the Chairman of the Board of Directors of FLC Group JSC as of March 28, said the Office of Investigating Police Agency under Vietnam’s Ministry of Public Security.

Chairman of FLC Group Trinh Van Quyet decided to leave his position as chairman of FLC Faros as the subsidiary has been nosediving in the past years.