The Ho Chi Minh City Department of Civil Judgment Enforcement is currently executing the second phase of the Van Thinh Phat case, based on the first-instance judgment of the Ho Chi Minh City People’s Court dated October 17, 2024, the appellate judgment of the Ho Chi Minh City High-Level People’s Court dated April 21, 2025, and the enforcement decision issued by the Head of the Ho Chi Minh City Department of Civil Judgment Enforcement on June 16, 2025.
Tens of thousands of bondholders receive compensation
Accordingly, the accused, Truong My Lan, is responsible for compensating a total amount of over VND 30,000 billion to the victims and relevant persons with rights and obligations who have received bond transfers (43,108 people), including the following bond codes: QT-2018.12.1, SET.H2025, ADC-2018.09, ADC-2019.01, ADC-2018.09.01, and SNW-2018.10.
The Ho Chi Minh City Department of Civil Judgment Enforcement stated that during the enforcement process, the total amount of money collected up to the present time is over VND 7,464 billion. Of this, the Investigation Agency (C03) of the Ministry of Public Security has confiscated more than VND 1,461 billion, and the Ho Chi Minh City Department of Civil Judgment Enforcement directly organized the enforcement and recovery of the remaining amount of over VND 6,002 billion. On June 25 and July 15, 2025, the enforcement agency made the first payment of VND 7,250.9 billion to 41,441 bondholders, equivalent to a rate of 24.81%. Eligible bondholders have received this amount according to regulations, ensuring transparency and publicity throughout the payment process.
Truong My Lan. Photo: HOANG TRIEU |
On July 17, the Ho Chi Minh City Department of Civil Judgment Enforcement deployed the second payment with a total amount of VND 696.45 billion to 41,441 bondholders (those who have completed their dossiers and been approved), equivalent to a rate of 2.4553%. On August 15, the enforcement agency continued to make supplementary payments to bondholders from the above two batches. These were cases where the beneficiaries provided or supplemented their account information after the first round of payments had ended.
After completing these two batches, the Ho Chi Minh City Department of Civil Judgment Enforcement continued to process the assets subject to enforcement and collected an additional VND 376.12 billion. Based on this amount, on August 20, the Ho Chi Minh City Department of Civil Judgment made the third payment with a rate of 1.25% for 42,141 bondholders. This batch included about 700 more beneficiaries compared to the previous two batches, as more bondholders completed their dossier information and were added to the payment list.
For the 967 bondholders who have not provided account information, the Ho Chi Minh City Department of Civil Judgment Enforcement has deposited the enforcement money in savings accounts in accordance with regulations to safeguard their assets until they complete the necessary information updates to receive their money.
SCB has not transferred the amount of more than VND 1,155 billion
After completing these three batches of payments, the Ho Chi Minh City Department of Civil Judgment Enforcement is actively verifying, measuring, and appraising the assets specified in the judgment of Truong My Lan and of individuals and organizations with enforcement obligations to Truong My Lan. The verification and appraisal process serves two important objectives. First, it aims to accurately determine the actual value of each asset before proceeding with the auction to prevent inaccurate valuations leading to asset loss or harm to the rights and interests of bondholders. Second, it updates any changes in assets (if any) that occurred after the trial, such as changes in status, disputes, mortgages, or transfers, to determine the appropriate handling in accordance with legal regulations.
The Ho Chi Minh City Department of Civil Judgment Enforcement representative stated that the asset appraisal would be conducted publicly, transparently, and cautiously to ensure that all enforcement assets have been thoroughly verified in terms of origin, legality, and value before the auction. “This is an important basis for maximizing asset recovery, thereby providing additional resources for compensation to bondholders in subsequent batches,” the enforcement agency representative emphasized.
Meanwhile, the Ho Chi Minh City Department of Civil Judgment Enforcement continues to request the Saigon Commercial Joint Stock Bank (SCB) to transfer the frozen amount according to the appellate and first-instance judgments of the two phases. Once the asset handling results are available and the bank transfers the money, the Ho Chi Minh City Department of Civil Judgment Enforcement will continue to make payments in subsequent batches. SCB has not yet transferred the amount of over VND 1,155 billion to the Ho Chi Minh City Department of Civil Judgment Enforcement.
Moreover, the Ho Chi Minh City Department of Civil Judgment Enforcement advises the beneficiaries and relevant persons with rights and obligations not to access unofficial links or websites of unknown origin. The agency recommends that bondholders regularly monitor and update information through official channels of the Ho Chi Minh City Department of Civil Judgment Enforcement to avoid being taken advantage of or accessing inaccurate or misleading information.
The Ho Chi Minh City Department of Civil Judgment Enforcement affirms that it is concentrating all forces to organize the execution of the judgment, ensuring the maximum legitimate rights and interests of bondholders. “We will continue to maintain transparency and publicity in the entire process of asset recovery and enforcement payment, and promptly inform bondholders when there are new sources of recovered funds or responses from competent authorities,” said the representative of the Ho Chi Minh City Department of Civil Judgment Enforcement.
No enforcement fee charged for the third batchA notable point in this batch is that the Ho Chi Minh City Department of Civil Judgment Enforcement has temporarily refrained from collecting enforcement fees. This is due to numerous petitions from bondholders requesting a waiver of enforcement fees in this large-scale and complex case. Regarding this request, the Ho Chi Minh City Department of Civil Judgment Enforcement has reported and sought the opinion of competent authorities on exempting enforcement fees for all bondholders. The agency affirms that once an official decision is received, it will be communicated widely to inform all bondholders. |
TRAN THAI
The Case of the Withdrawn Payout: Unraveling the Story Behind the Reversal of Funds for 188 Bondholders in the Van Thinh Phat Scandal
188 bondholders were entitled to compensation ranging from a few hundred million to 4.5 billion VND. However, as these bondholders are now deceased or have transferred ownership through sales, gifts, or other means, the Ho Chi Minh City Court has recalled the decision to distribute funds to these individuals.
“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 Great SCB Misunderstanding: How a Typo Caused a Stir
Former SCB chairman claims that he misremembered the amount of his Lunar New Year bonus due to confusion and fear.
