Trinh Van Quyet’s 2nd Rolls Royce to be auctioned

Orient Commercial Bank is looking for an auction company to sell the car, a custom-built Phantom “Sacred Fire” that Quyet bought in 2015.

It cost an estimated VND51 billion ($2.09 million) in 2015, and Quyet had used it as collateral for his company, FLC Land’s loan.

As reported earlier, a Rolls-Royce Ghost belonging to Quyet, used as collateral for a loan for construction company FLC Faros from BIDV, will be auctioned on October 24.

Bidders have to put down a deposit of VND2 billion.

Both OCB and BIDV are big lenders to FLC and its subsidiaries.

OCB has been seizing other collateral for FLC’s debts this year, including seven condotels and 81 hotel rooms (including two presidential suites) at the Grand Hotel Sam Son in the central province of Thanh Hoa.

Others include 169 resort rooms for Bamboo Airways’ debts.

Quyet and two of his sisters are being investigated for fraud following their arrest for alleged stock market manipulation in March and April.