On September 26, the Ho Chi Minh City People’s Court continued the trial of the accused in the Van Thinh Phat case, phase 2, with an examination of the act of illegal cross-border currency transportation.
Nguyen Phuong Anh, Deputy General Director of SPG (under the Van Thinh Phat Group), was the first to be examined. She managed three companies that transferred money overseas: Blue Pearl, Saigon Penninsula, and Easter View. Of these, only Saigon Penninsula was operational and acted as the investor for the Saigon Penninsula project, while the other two companies were inactive.
In addition to directly managing these three companies, when instructed by Truong Khanh Hoang (former General Director of SCB) to facilitate money flow for other companies, Nguyen Phuong Anh complied with the requests.
Defendant Truong My Lan at the trial. (Photo: Hoang Tho)
When transferring money abroad, Nguyen Phuong Anh would do so under service consulting contracts and purchase contracts, but these contracts did not generate transactional relationships. According to Anh, these contracts were prepared by Chiu Binh Keung Kenneth (a lawyer and friend of Truong My Lan based overseas), and the files designated the selection of Saigon Penninsula Company.
“Truong My Lan instructed me to coordinate with Chiu Binh Keung Kenneth to transfer the money, after which I worked with him. If there were any missing documents as per the requirements, I would report back to Truong Khanh Hoang for consideration and execution,” said Nguyen Phuong Anh.
Once the money was transferred to the Saigon Penninsula Company, Anh followed the directions of Truong Khanh Hoang, who, she believed, was also acting under the instructions of Truong My Lan. After successfully transferring the money, she would inform Hoang.
“When carrying out these actions, I did not realize I was violating the law. It was only after working with the investigating agency that I became aware of my wrongdoing, and I deeply regret my actions. I was just an employee, and I did not benefit personally, so I hope the court will consider this,” said the defendant Phuong Anh.
According to the indictment, following Truong My Lan’s instructions, during the period from March 7, 2018, to August 1, 2022, Nguyen Phuong Anh coordinated with Nguyen Phuong Hong, Tran Thi My Dung (both former deputy general directors of SCB), and Truong Khanh Hoang to create fictitious contracts for the three companies she managed. As a result, they received 35 million USD and transferred nearly 57 million USD (over 1,335 billion VND) abroad.
Nguyen Phuong Anh and her accomplices illegally transported nearly 92 million USD (over 2,138 billion VND) across borders.
The next defendant, Trinh Quang Cong (former General Director of Acumen, a Van Thinh Phat Group company), was in charge of seven companies: Golden Hill, VinaLand, Capitaland Tower, Trade Wind, Eland, Dong Sai Gon, and Thanh Hieu. These companies were investors in projects in Ho Chi Minh City and Long An and were assigned to Cong by Truong Khanh Hoang for management.
From July 2020 to October 2022, Trinh Quang Cong was entrusted by Truong Khanh Hoang to monitor and manage the transfer of money and the receipt of funds from abroad for these seven companies. According to Cong, the money transferred abroad was intended to repay debts. The money flow and transfer orders of the seven companies he managed were all approved by Truong Khanh Hoang. When Hoang left the position, Cong received direct instructions from Truong My Lan to carry out the same tasks as before.
According to the indictment, during the above period, Trinh Quang Cong, along with his accomplices, transferred over 1,444 million USD (more than 33,547 billion VND) abroad and received over 1,449 million USD (over 34,629 billion VND) from overseas based on fictitious contracts.
In total, Trinh Quang Cong and his accomplices illegally transported more than 2,894 million USD (over 68,177 billion VND) across borders.
The remaining defendants, who were leaders of SCB and companies within the Van Thinh Phat ecosystem, such as To Thi Anh Dao (former Deputy General Director of Van Thinh Phat Group), Nguyen Vu Anh Thi (General Director of VIPD), Bui Anh Dung (former Chairman of the Board of SCB), and Truong Khanh Hoang, stated that their approval of the paperwork for transferring money abroad and receiving money from overseas into Vietnam was carried out under the direction of Truong My Lan.
Regarding the procedures and conditions for transferring money abroad and receiving money from overseas into Vietnam, the defendants claimed that they trusted their subordinates and signed off on the paperwork without knowing that these were fictitious contracts, which violated regulations. It was only after working with the investigating agency that they became aware of their mistake.
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