In relation to the case involving Saigon Commercial Joint Stock Bank (SCB) and Van Thinh Phat Corporation PJSC, the defendant Truong My Lan (former Chairman of Van Thinh Phat Corporation) was ordered to pay compensation of over 673,000 billion VND to remedy the consequences of the case.
This amount is used to compensate SCB for the remaining balance of 1,234 loans (as of October 17, 2022) for which the Trial Panel determined the liability of the defendant Lan.
 An image of the previous villa. |
To ensure enforcement of the judgment, the Trial Panel rejected the request to retain the ancient villa at 110-112 Vo Van Tan, District 3, Ho Chi Minh City, with an area of nearly 3,000 m2.
Throughout the trial, the defendant Lan, despite not admitting to criminal behavior, expressed her desire to use personal and family assets to remedy the consequences of the case.
For the ancient villa in District 3, the defendant requested to keep it for her daughter to continue repairing and preserving.
The villa after a long period of renovation |
However, the Trial Panel concluded that the assets currently being seized from the defendant Lan are still insufficient to remedy the defendant’s liability. Therefore, the request to retain the ancient villa was rejected.
The ancient villa stands out with its unique architectural beauty |
According to the record, the ancient villa covering nearly 3,000 m2 on this “golden” land has 3 frontages on Vo Van Tan, Ba Huyen Thanh Quan, and Nguyen Thi Dieu streets. The ancient villa is nestled among high-rise buildings in the center of Ho Chi Minh City but stands out due to its unique and rare architectural beauty.
A corner of the villa during the renovation. |
The villa was built in the 1920s-1930s and was named “Southern Villa”.
In 2019, after receiving permission from the People’s Committee of Ho Chi Minh City, the owner of the villa began the renovation. After many years of construction, the work has not yet been completed. In October 2022, Ms. Lan was arrested, and the construction contractor withdrew from the project, halting construction since then.
In addition to this ancient villa, the Trial Panel also ordered continued seizure and temporary retention of real estate, shares, land use right certificates, passbooks, and other assets of Van Thinh Phat Group companies owned by or registered in the names of individuals, of the defendants, and other related parties to ensure enforcement of the judgment of the corresponding obligations.
The Trial Panel ordered several individuals and organizations that had transactions with the defendant Truong My Lan to transfer real estate and projects to return the money received from the defendant Truong My Lan or continue to pay in accordance with the agreed transaction to secure the defendant Lan’s obligations in the entire case and receive back shares, projects, and real estate to continue implementing.
The assets and amounts of money identified by the Trial Panel to remedy and secure the obligations of the defendant Lan in the entire case include this case and the cases of subsequent stages, but priority is given to enforcing the judgment for the victims related to the fraud and misappropriation of assets in the issuance of bonds.
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On April 11, Ho Chi Minh City People’s Court, at the first-instance trial, sentenced the defendant Truong My Lan to 20 years in prison for “Violating regulations on lending in the activities of credit institutions”; death penalty for “Embezzlement”; and 20 years in prison for “Bribery”. The combined sentence for all 3 crimes is the death penalty. Within 7 days from the effective date of the judgment, the defendant Truong My Lan may submit a petition for clemency to the President of the country. The defendant, victim, and other related parties present at the trial may appeal within 15 days from April 12. The defendant absent from the trial may appeal within 15 days from the date the judgment is served or posted. |
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Y Linh
