On the afternoon of November 15, the Ho Chi Minh City High-Level People’s Court continued the appellate trial for Truong My Lan, former chairman of Van Thinh Phat Group, and 47 accomplices, focusing on discussions and debates.
Previously, the representative of the Ho Chi Minh City High-Level People’s Procuracy proposed to uphold the death sentence for Truong My Lan on charges of “Embezzlement of Assets”, “Receiving Bribes”, and “Violation of Regulations on Lending in the Operations of Credit Institutions.”
The trial took an unexpected turn as the presiding judge informed the defense lawyer of Truong My Lan about a new development regarding 20 additional land plots connected to the defendant in Dong Nai. Specifically, a verdict by the Dong Nai Provincial People’s Court related to Lan’s assets was overturned by the Ho Chi Minh City High-Level People’s Court in September. As a result, over 20 land lots registered under two individuals were identified as representatives acting on behalf of the accused, Truong My Lan.
Defendant Truong My Lan
|
Regarding these assets, Lan asserted that she purchased them with her personal funds, unrelated to the assets subject to seizure in this case, and that she is willing to use them to remedy the consequences of the case.
One of the arguments put forth by Lan’s defense lawyer was that sparing Lan from the death penalty would contribute to the revival of many stalled projects.
Previously, in the first-instance verdict, the Ho Chi Minh City People’s Court ruled that Lan had embezzled over VND 304 trillion from Saigon Commercial Bank (SCB). As a result, she was ordered to compensate SCB with more than VND 673 trillion after accounting for repaid debts by unrelated customer groups and other obligations.
Other defendants in the courtroom
|
The lawyer emphasized that while they disagreed with this figure and requested the appellate panel to reconsider, Lan had committed to making restitution to enable SCB to reimburse the State Bank of Vietnam.
According to the lawyer, the sources of funds and assets available for remediation include: over VND 21 trillion already paid or confiscated; VND 172 billion in frozen accounts; VND 520 billion contributed by Lan’s family and Van Thinh Phat Group; and VND 5 trillion from increasing SCB’s charter capital…
Additionally, the lawyer stated that Lan voluntarily offered to use her family’s assets, accumulated over decades, to supplement the remediation if necessary. The estimated total value of the assets and funds for remediation is approximately VND 638,399 billion, excluding other remaining assets.
Photo: Hoang Trieu
The Confessions of SCB’s Former CEO: How the Debt Swelled Like a “Flood that Swept Everything Away”
The former CEO of SCB revealed that accused Truong My Lan used assets solely as collateral for loans without any actual funds to repay the debts upon maturity.
The Confessions of SCB’s Former CEO: A Debt Tsunami that Swept Everything Away
(NLĐO) – The former CEO of SCB testified that accused Trương Mỹ Lan used assets as loan collateral without possessing adequate funds to repay the debt upon maturity.
“Former Bach Dat An Corporation CEO Remanded in Custody”
Former Bach Dat An JSC General Director Hoang Thi Kim Chau has been detained by the Quang Nam Province Public Security.
Unveiling the Secrets: A Proposal for the Ministry of Public Security to Continue Verification of Assets in the Truong My Lan Case
The official website of the People’s Court of Ho Chi Minh City has published the First Instance Criminal Verdict on the case of Truong My Lan and accomplices, Phase 2. The verdict includes a recommendation for the Investigation Agency of the Ministry of Public Security (C03) to investigate and verify the ownership of numerous assets involved in the case.
Trương Mỹ Lan: A Billion-Dollar Overseas Investment for SCB Shares and Restructuring
“Ms. Truong My Lan asserted that nearly US$1 billion of the total inflow of over US$3 billion from overseas remittances belonged to her friends. This substantial amount was intended to facilitate the purchase of shares and enable their participation in the restructuring of SCB.”
