In the case of the incident that occurred at Van Thinh Phat Corporation, SCB Bank, and related entities, Mr. Nguyen Cao Tri (Chairman of the Board of Directors of Van Lang Company, Chairman of the Board of Directors and CEO of Capella Group) has been charged with the crime of Abuse of Trust and Misappropriation of Assets.
According to the indictment, from 2017 to 2020, Ms. Truong My Lan (Chairwoman of Van Thinh Phat Corporation) repeatedly used employees to transfer money to purchase shares of several projects owned by Nguyen Cao Tri, including Industrial Rubber Joint Stock Company, Saigon Dai Ninh Tourism Investment Joint Stock Company, and investment cooperation projects in Hai Ha district, Quang Ninh province.
In particular, in December 2017, Mr. Tri transferred 65% of the charter capital of Industrial Rubber Joint Stock Company (Dong Nai) to Truong My Lan for $45 million. Ms. Lan has transferred a total amount of $21.25 million (equivalent to 31.22% of the charter capital) to the accused Tri on three occasions.
Mr. Nguyen Cao Tri.
In Saigon Dai Ninh Tourism Investment Joint Stock Company, the investigating agency identified Nguyen Cao Tri as owning 58% of the charter capital, and he sold all shares to Truong My Lan for VND 3,000 billion. During the transfer process, the Chairman of Van Thinh Phat Corporation deposited $1 million and VND 127 billion.
In mid-2020, Ben Thanh Holdings Group Joint Stock Company, chaired by Nguyen Cao Tri, was approved by the People’s Committee of Quang Ninh province, the Management Board of Quang Ninh Economic Zone, and relevant departments and agencies to study the planning and guide certain related procedures for Ben Thanh Company to implement investment projects in Hai Ha district.
To participate in the investment project in Hai Ha district, Truong My Lan agreed to make payments according to the incurred cost progress and transferred a total of $9.5 million to Nguyen Cao Tri.
Subsequently, Truong My Lan decided not to continue participating in the project and agreed with Tri to transfer the amount of $9.5 million to purchase 10% of the charter capital of Van Lang Investment and Education Management Joint Stock Company.
As Truong My Lan received a considerable amount of money from Truong My Lan without any receipt, as of January 2021, Nguyen Cao Tri met Truong My Lan at Ngan Dinh Restaurant (Times Square Building) and agreed to settle all the transferred funds, amounting to VND 1,000 billion.
After Truong My Lan was charged, on October 21 and 22, 2022, Nguyen Cao Tri instructed subordinates to draft the liquidation of the contract appointing Tri to act as an investment trustee to transfer 31.22% of the charter capital of Industrial Rubber Company and adjust the price and liquidate the contract to transfer 10% of the charter capital of Van Lang Company.
During the working process with the investigative agency from December 26, 2022, to January 15, 2023, Nguyen Cao Tri refused to admit that he had received money from Truong My Lan.
Upon reaching the forensic conclusion of the Institute of Forensic Science, Ministry of Public Security, which determined the handwriting of Nguyen Cao Tri in the documents prepared by the accused to monitor and confirm the amount of money received from Truong My Lan.
The indictment stated, “Nguyen Cao Tri refuses to admit that he had received money from Truong My Lan and claims that Truong My Lan had fabricated and defamed his reputation, showing her intention to misappropriate the money to the fullest extent.”
Subsequently, Truong My Lan filed a request to clarify and address the actions of Nguyen Cao Tri in misappropriating her assets and to retrieve VND 1,000 billion according to the provisions of the law.
Based on the collected documents, statements of the accused and related persons, the investigative agency has sufficient grounds to establish that Nguyen Cao Tri took advantage of Truong My Lan’s arrest and used deception to direct subordinates to prepare and complete the liquidation of the contract appointing him as an investment trustee and the transfer of the contract to remove the debt obligation, with the aim of misappropriating VND 1,000 billion that he had received.
From March 5 to April 29, the People’s Court of Ho Chi Minh City will conduct a trial of the accused persons Truong My Lan (68 years old, Chairwoman of Van Thinh Phat Corporation), Chu Lap Co (68 years old), and 84 other defendants in the case.
The defendants are prosecuted for one of the following offenses: Embezzlement of property, Bribery, Receiving bribes, Violating regulations on lending activities of credit institutions, Taking advantage of positions and powers in the performance of official duties, Serious consequences due to negligence, Abuse of trust to misappropriate assets.
Truong My Lan is being tried for three charges: Embezzlement of property, Bribery, Violation of regulations on lending activities of credit institutions, and she is defended by five lawyers: Phan Trung Hoai, Phan Minh Hoang, Nguyen Huy Thiep, Giang Hong Thanh, and Truong Thanh Duc.
Nearly 200 lawyers will participate in the defense of the defendants and protect the legal rights and interests of the related parties.
