On January 24, the Ho Chi Minh City Department of Civil Judgment Enforcement announced that it had received multiple requests for judgment enforcement and fee exemption/reduction from bondholders affected by the Truong My Lan case, involving the former chairman of Van Thinh Phat Group and her accomplices (phase 2).
According to the Ho Chi Minh City Department of Civil Judgment Enforcement, the civil first-instance Judgment No. 504/2024, issued by the Ho Chi Minh City People’s Court on October 17, 2024 (part of phase 2 of the case), is not yet in force as Truong My Lan has filed an appeal. Therefore, the department lacks the legal basis to process the judgment enforcement requests related to this judgment.
 Defendant Truong My Lan
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Regarding the funds temporarily held in the case, the department informed that approximately VND 8,000 billion has been temporarily collected. This amount is intended to ensure the fulfillment of judgment enforcement obligations by Truong My Lan and other involved parties in the case. |
Concerning the requests for fee exemption and reduction, the Ho Chi Minh City Department of Civil Judgment Enforcement stated that Circular No. 216/2016/TT-BTC, dated November 10, 2016, issued by the Ministry of Finance, governs the payment, exemption, and reduction of civil judgment enforcement fees. However, in the specific case of the bondholders affected by the Truong My Lan case, the department will acknowledge, consolidate, and report to the competent authorities for consideration and guidance on handling these requests in accordance with regulations.
 Truong My Lan and her accomplices in court |
The Ho Chi Minh City Department of Civil Judgment Enforcement also provided guidance on judgment enforcement once the appellate judgment comes into effect. Accordingly, after the appellate judgment is announced and takes effect, based on the content of the judgment, the involved parties in the case, including the judgment creditors (bondholders) and the judgment debtor (Truong My Lan), have the right to file a request for judgment enforcement. The judgment debtor may voluntarily fulfill their obligations under the judgment.
If the judgment debtor fails to voluntarily comply despite having the means to do so, the department will implement coercive judgment enforcement measures as stipulated by law.
The case of Truong My Lan and her accomplices was divided into two phases by the Ho Chi Minh City People’s Court. In phase 1, the court determined that Truong My Lan was the mastermind behind the establishment of the “Van Thinh Phat ecosystem” and directed her accomplices at SCB Bank to create numerous fake loan applications. Through these applications, Lan withdrew a substantial amount of money, causing severe losses to the bank.
The Ho Chi Minh City People’s Court delivered the first-instance judgment on April 11, 2024, and on December 3, 2024, the Ho Chi Minh City High-Level People’s Court upheld the death sentence for Truong My Lan during the appellate trial.
Currently, the Ho Chi Minh City Department of Civil Judgment Enforcement has processed and issued judgment enforcement decisions to execute the judgments according to legal procedures. The enforcement measures include asset seizure, account freeze, and compelling the involved parties and related individuals to pay to remedy the consequences and fulfill their obligations. The department is closely coordinating with departments, sectors, and local authorities to promptly handle the seized assets in the case.
Phase 2 pertains to the issuance of fake bonds to defraud numerous individuals. The Ho Chi Minh City People’s Court conducted the first-instance trial for this phase on October 17, 2024. Following the trial, Truong My Lan filed an appeal, and the case is now under the jurisdiction of the Ho Chi Minh City High-Level People’s Court for appellate proceedings.
During this period, the Ho Chi Minh City Department of Civil Judgment Enforcement has implemented supportive software for processes such as case reception, notification, and payment of judgment enforcement funds. This has helped reduce administrative processing time while safeguarding the rights and interests of the bondholders involved in phase 2. As soon, as the judgment comes into force and is accepted for enforcement, the involved parties will receive notifications and judgment enforcement funds as soon as possible.
Tran Thai
– 20:04 24/01/2025
“Mrs. Truong My Lan Appeals Entire Phase 2 Verdict”
Many victims who invested in bonds related to Truong My Lan have also appealed the first-instance verdict.
The Handling of Truong My Lan’s Massive Assets Requires the Supervision of the Supreme People’s Procuracy and the Ministry of Public Security
The court has ruled that the massive wealth of Truong My Lan must be handled under the supervision of the Supreme People’s Procuracy and the Ministry of Public Security.
“The Verdict: Unraveling the Complex Web of Mrs. Lan’s Wrongdoings”
Facing a death sentence, Truong My Lan appealed for a reduced punishment. However, the prosecution rejected her appeal and recommended that the court uphold the death sentence for her conviction on three charges.
The Prosecution Rejects the Proposal to Hand Over Truong My Lan’s Assets to SCB for Handling
The VKS representative refuted most of SCB’s requests regarding the handling of Truong My Lan’s assets, as well as the demand for Lan to compensate for the interest of 1,243 loans.
The Final Words from Mrs. Truong My Lan in Court
The representative from the HCMC-based Higher People’s Procuracy maintained their stance on the death sentence for the defendant, Truong My Lan.
