In the investigation conclusion of the case that occurred at Van Thinh Phat Group, SCB Bank and related units, the Ministry of Public Security proposed prosecuting 86 defendants for 7 different crimes.
In which, Ms. Truong My Lan (Chairwoman of Van Thinh Phat Group) was proposed to be prosecuted for the crimes of Bribery, Violation of regulations on banking activities and Embezzlement of assets.
According to the investigation, Ms. Lan is the owner of Van Thinh Phat Group, owns a large number of subsidiaries and affiliated companies; Ms. Lan assigned her family members and close relatives to operate and manage them.
The companies mentioned in the conclusion are: Van Thinh Phat Group Joint Stock Company, Van Thinh Phat Investment Group Joint Stock Company, An Dong Investment Group Joint Stock Company, Saigon Peninsula Group Joint Stock Company, Windsor Real Estate Management Group Joint Stock Company, Times Square Investment Joint Stock Company...
Ms. Truong My Lan (Photo: HN).
Taking advantage of the bank's operations to mobilize capital for the operations of Van Thinh Phat Group, at the end of 2011, Ms. Lan took over 3 private banks by buying and owning the majority of shares in these banks.
On January 1, 2012, the three banks merged under the name Saigon Commercial Joint Stock Bank (SCB). In SCB, Ms. Lan owned more than 85% of shares and continued to buy more afterwards.
By October 2022, Ms. Lan controlled more than 91.5% of charter capital, equivalent to owning nearly 1.4 million shares of SCB Bank, registered in the names of 27 legal entities and individuals.
"With the ownership/control of the above-mentioned shares of SCB Bank, Truong My Lan has assigned her confidants and key positions at SCB Bank, such as the Board of Directors, Board of General Directors, Directors of major branches, and Head of the Board of Supervisors to use these people to run all activities of SCB Bank," the investigation conclusion stated.
In addition, Ms. Lan also used SCB as a joint stock commercial bank to mobilize capital. However, in lending activities, SCB mainly served Ms. Lan's personal purposes.
The investigation results determined that as of October 17, 2022, there were 1,284 loans/875 customers of the Truong My Lan - Van Thinh Phat group, with outstanding debt of more than 677,000 billion VND.
To withdraw the above amount of money, Ms. Lan directed a group of people at SCB, Van Thinh Phat Group and related organizations and individuals to create fake documents as a loan to withdraw money at SCB.
SCB Bank (Photo: SCB).
Ms. Lan's method is to establish/use thousands of "ghost" legal entities, ask/hire thousands of individuals to stand in the name of customers to borrow capital; create fake loan plans; provide illegal collateral, not qualified for mortgage, inflate the value, not register secured transactions, collude with valuation units to legalize the value;
Set up procedures to appraise and approve loans like a normal loan application to make it legal; after the money was transferred to the designated account, thousands of "ghost" legal entities were used, thousands of individuals were hired or asked to open accounts to transfer money around, transfer money out of SCB to withdraw cash, cut off the cash flow for Ms. Lan to appropriate and direct its use.
In addition to the above tricks, the investigation conclusion also pointed out that Ms. Lan directed the subjects at SCB to establish a new business unit at the headquarters just to disburse money to the Truong My Lan - Van Thinh Phat group; swap/withdraw valuable collateral assets to replace them with illegal/valueless/low-value assets to embezzle SCB;
Selling bad debts, selling deferred debts, offsetting debts to conceal bad debts, reducing credit balances with the purpose of continuing to mobilize capital, disbursing loans for the Truong My Lan - Van Thinh Phat group;
Bribing officials performing public duties when SCB was under supervision, inspection, and audit to make them report dishonestly about the serious situation of SCB.
Source
Comment (0)