Trương Mỹ Lan and some accomplices. Photo: Ministry of Public Security
According to the schedule, on March 5, the Ho Chi Minh City People’s Court held a first-instance trial of Trương Mỹ Lan (68 years old, former Chairman of Van Thinh Phat Group) and 85 other defendants related to the case that occurred at Van Thinh Phat Group and Saigon Commercial Joint Stock Bank (SCB).
The defendants are being charged with embezzlement, bribery, accepting bribes, violating regulations on lending in the activities of credit institutions, abusing positions and powers while performing official duties, serious responsibility causing serious consequences, and misappropriation of assets.
Trương Mỹ Lan herself is being prosecuted for three charges: embezzlement, bribery, and violation of regulations on lending in the activities of credit institutions.
The trial is expected to take place from March 5 to April 29.
Prior to that, the authorities had transferred 81 defendants in the Van Thinh Phat case to Ho Chi Minh City to prepare for the trial.
To serve the trial, the court has summoned over 2,400 individuals with relevant rights and obligations. In addition, the court has issued a notice calling for a group of five wanted defendants to surrender themselves to receive leniency.
According to the indictment of the Supreme People’s Procuracy, although not holding a position at SCB, Trương Mỹ Lan was the person who controlled the bank’s leadership to help them “plunder” more than VND 304 trillion.
Specifically, Trương Mỹ Lan and many accomplices established and used thousands of “shell” companies; colluded with many appraisal companies to inflate the value of collateral assets; created a large number of fake loan application files to withdraw money from SCB; devised plans to withdraw money and cut off the cash flow after disbursement; sold bad debts and slow-paying loans to reduce credit balances, bad debts, and conceal misconduct; bribed and influenced persons with positions and powers in state agencies to violate their official duties.
