How did Truong My Lan bribe the entire SCB Bank inspection team?

Among the 86 defendants proposed for prosecution in the case at Saigon Commercial Joint Stock Bank (SCB), Van Thinh Phat Group and related units, there are 41 individuals who are leaders and officers of SCB Bank; 15 former officers of the State Bank; 3 former officers of the Government Inspectorate; 1 former officer of the State Audit.

According to the investigation, during its operations, SCB Bank was regularly inspected, supervised, and audited. In order to avoid detection and handling of the violations caused by herself and her accomplices, Truong My Lan directed key officials of SCB Bank to bribe officials and leaders of the Banking Inspection and Supervision Agency.

Ms. Lan also directed the bribery of leaders of the State Bank of Vietnam, Ho Chi Minh City branch, and the Head of the Enhanced Supervision Team at SCB bank to cover up and conceal information about violations and make dishonest and incomplete reports to authorities.

Defendant Nguyen Van Hung, former Deputy Inspector of the State Bank. (Photo: VNA).

The Ministry of Public Security determined that during the inspection at SCB Bank, defendant Do Thi Nhan (former Director of the Banking Inspection and Supervision Department II under the Banking Inspection and Supervision Agency, State Bank) met many times with Truong My Lan, leader of SCB Bank.

Do Thi Nhan received bribes totaling 5.2 million USD (equivalent to more than 118 billion VND) 4 times to cover up and conceal the violations of Ms. Truong My Lan and SCB.

Besides Ms. Nhan, the person with the highest position in the State Bank involved in the case is Nguyen Van Hung, former Deputy Chief Inspector, in charge of the State Bank's inspection and supervision agency. He is the person who signed the document assigning Do Thi Nhan as the head of the inspection team to inspect SCB Bank.

Mr. Hung then directed his subordinates and the inspection team to cover up SCB's violations and not follow the Government's instructions, leading to the State Bank and the Government not having enough information and documents to handle the bank's violations.

During his duties, Nguyen Van Hung received money from SCB many times, totaling 390,000 USD (more than 8.7 billion VND) and has now handed it all over. Mr. Hung was proposed to be prosecuted for the crime of "Abusing position and power while performing official duties".

Another person in the inspection team is defendant Nguyen Van Thuy, former Deputy Head of the Inspection Department of a bank and Deputy Head of the National Financial Supervision Board. He received a total of 21,000 USD, 60 million VND and many gifts such as shirts, T-shirts, and bird's nest from SCB 6 times to cover up the bank's violations.

Most of the 20 members of the SCB inspection team in 2018 received money from Truong My Lan and this bank. Seven people were identified by the investigation agency as "secondary" and working under instructions, so they were not criminally prosecuted.

In addition to the defendants from the State Bank's inspection agency, the investigation agency also accused four officials from the State Bank's Ho Chi Minh City branch of receiving from VND470 million to VND1.8 billion to cover up violations for Truong My Lan.

This has caused particularly serious consequences when the outstanding debt at SCB of organizations and individuals related to Ms. Lan alone has reached more than 677,286 billion VND.

In addition, 11 people who were members of the Supervisory Team from 2016 to 2022 also "received gifts" from SCB during holidays and Tet. However, they proactively reported, helped conduct the investigation and "returned the gifts" so they were not criminally prosecuted.

Mr. To Duy Lam, former Director of the State Bank of Vietnam, Ho Chi Minh City branch, was identified by the investigation agency as the head of the unit directly responsible for monitoring and managing SCB Bank. Although Mr. Lam did not receive money or edit reports related to this bank, he was still "responsible in management" for the violations committed by his subordinates. The investigation agency did not propose criminal prosecution of Mr. Lam, but said that it was necessary to strictly handle the Party and government.

Wisdom

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