The Ho Chi Minh City People’s Court has announced that it is currently handling the criminal case of Truong My Lan and accomplices for “Fraudulent Appropriation of Property,” “Money Laundering,” and “Illegal Cross-border Transfer of Currency.” The case number is 531/2024/HSST, dated July 12, 2024, with the initial hearing scheduled for September 19, 2024 (expected to conclude on October 19, 2024).
Truong My Lan during the first trial phase. Photo: PV
According to the indictment, Truong My Lan founded the Van Thinh Phat Group in 1992, holding 60% of its shares and serving as its chairwoman until now. From 2018 to 2020, Lan directed subordinates to use An Dong, Sunny World, Quang Thuan, and Setra companies to issue 25 fake bond codes and 308 million bonds, defrauding 35,824 investors out of tens of thousands of billions of VND. Lan and eight accomplices also illegally transferred over 4 billion USD abroad.
The People’s Court of Ho Chi Minh City has decided to try the case in absentia for the victims and concerned persons as stipulated in Articles 62, 65, and 292 of the Criminal Procedure Code, ensuring the rights and interests of the victims and concerned persons according to the law. The court identified 35,824 victims and 534 organizations and individuals with related rights and obligations in this case.
Trying the case in absentia for the victims and concerned persons will not affect the resolution of the case nor the legitimate rights and interests of the victims and concerned persons. The Ho Chi Minh City People’s Court also noted that individuals holding bonds other than the six bond codes: QT2018.12.01; ADC 2018.09; ADC 2018.09.01; ADC 2019.01; SET.H2025; and SNW-2018.10, issued by An Dong Investment Group Joint Stock Company, Sunny World Investment Joint Stock Company, Quang Thuan Investment Joint Stock Company, and Setra Trading Services Joint Stock Company, are not within the scope of this trial.
The Master of Disguise: How a Woman Used 11 Bank Accounts to Pull Off an Elaborate Scam
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“Authorities are on the lookout for individuals who were in contact with the suspect, Duyen, via Facebook and made transactions to any of the 11 bank accounts. The suspect employed 11 accounts to transfer funds, attempting to evade detection. Any information regarding this matter will aid the investigation and bring clarity to the situation.”
Important Announcement Regarding Over 35,000 Bondholders of Van Thinh Phat
The Ho Chi Minh City People’s Court will hear the case of defendant Truong My Lan (former Chairman of the Board of Van Thinh Phat Group) and her accomplices on September 19. The trial is expected to last for one month.
The Great Escape: A Crafty Scheme with Counterfeit Certificates
A skilled forger, the perpetrator crafted four fake red books, official Vietnamese land titles, in Chi Lang Ward, Pleiku City, Gia Lai Province. They then used these fraudulent documents to secure loans from three different pawnshops, amassing a total debt of over 1.3 billion VND.
