Wednesday , February 8 2023

Trinh Van Quyet’s Rolls-Royce reserve price plunges in 5th auction attempt

The impounded Rolls-Royce Ghost belonging to former FLC chairman Trinh Van Quyet is set to go under the hammer again with the reserve price falling to VND8.8 billion ($373,100).

Auction house Minh Phap will organize the fifth auction on December 30 in Ho Chi Minh City after four failed attempts when no one bid.

The first auction had a reserve price of VND10 billion.

The car is owned by lender BIDV, which seized it from FLC Faros, a construction company owned by FLC, after it failed to repay a loan of nearly VND186 billion.

Other FLC-related assets that are being auctioned are the FLC Albatross yacht and another Rolls-Royce owned by Quyet.

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

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