(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.

From 2014 to September 2016, Quyet instructed her accomplices to sign fake documents to increase FLC Faros Construction’s registered capital to 4.3 trillion dong from 1.5 trillion dong, then list the company’s shares on the Ho Chi Minh City Stock Exchange in order to trade, and appropriated more than 3.6 trillion dong from investors, according to the statement that cited the investigation’s findings. 

Read: Vietnam Says FLC’s Ex-Chair Made $42 Million in Illicit Profits

The police also probed the involvement of seven officials at the Ho Chi Minh City Stock Exchange, the State Securities Commission and Vietnam Securities Depository over their alleged abuse of position and power, and internationally publishing false information or concealing information in securities activities, the statement said. 

The police has transfered the case-file to the supreme court after seeking prosecution. 

Representatives of FLC Group, FLC Faros Construction, the stock exchange, the commission and the securities depository were not immediately available for comment outside working hours. Bloomberg was unable to reach a representative of Quyet to seek comment. 

Read: Vietnam Quickens Criminal Probes That Rattled the Economy

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