Among the 86 defendants prosecuted, Ms. Truong My Lan (Chairwoman of the Board of Directors of Van Thinh Phat Group Joint Stock Company - Van Thinh Phat Group) was prosecuted for three crimes: "Embezzlement of property", "Violation of regulations on lending in the operations of credit institutions" and "Bribery". In each crime, the prosecution agency clarified the nature of the defendant's actions.
Absolute power at SCB
According to the records, although she did not hold a position in Saigon Commercial Joint Stock Bank (SCB), because she always held controlling shares (from 85% to 91.5% of total SCB shares), Ms. Truong My Lan was the person with absolute shareholder power, directing and operating all activities of SCB. Using many methods and tricks, Ms. Lan used SCB to mobilize capital, then organized and directed key leaders at SCB and Van Thinh Phat Group to collude, collude, and create documents to legalize loans to withdraw large sums of money, often fake loans.
From 2012 to 2022, Ms. Lan directed the creation of fake documents, loans, and disbursements for more than 2,500 loans with a total amount of more than 1 million billion VND. By the end of 2022, there were 1,284 loans remaining with an outstanding debt of more than 677,000 billion VND, which were irrecoverable. The outstanding principal of Ms. Lan's loans accounted for 93% of the total outstanding principal of more than 23,000 outstanding loans at SCB.
Regarding disbursed cash flow, SCB recorded that the amount disbursed to individuals and legal entities according to loan plans was transferred to the accounts of 483 individuals and 450 legal entities.
The cash flow of 1,284 loans with over VND 483,000 billion of outstanding principal of Ms. Lan was determined to be over VND 57,000 billion for old loans at SCB; organizations and individuals transferring money out of the SCB system was over VND 381,000 billion; organizations and individuals transferring money internally within SCB was over VND 5,200 billion; organizations and individuals withdrawing cash was over VND 81,000 billion.
To legalize the withdrawal of money at SCB and avoid detection by state agencies, Ms. Lan directed: in the case of SCB, disburse money into the accounts of "ghost" companies that receive money according to the loan plan; direct subordinates at Van Thinh Phat Group to establish a plan to implement "fund disbursement" by creating contracts promising to transfer fake shares, using many individuals to open accounts at SCB to sign withdrawals, deposit money, and transfer money in a roundabout way to the accounts of companies in the group, and finally transfer money to accounts according to Ms. Lan's intended use.
Many individuals helped Ms. Lan withdraw money from SCB
In this case, the defendants at SCB were accused of helping Ms. Lan embezzle money from SCB. The first was Mr. Dinh Van Thanh (former Chairman of the Board of Directors of SCB). From 2012 to 2020, Mr. Thanh was arranged by Ms. Lan to be the Chairman of the Board of Directors of SCB. Mr. Thanh signed the credit documents for Ms. Lan's loans but let "ghost" companies and hired individuals stand in their names.
With the above actions, Mr. Thanh is accused of actively assisting Ms. Lan in committing the crime. Mr. Thanh personally caused a loss to SCB of more than 42,000 billion VND. Mr. Thanh is also accused of causing a loss to SCB of more than 99,000 billion VND in interest debt.
The second person on the list of people who helped Ms. Lan embezzle SCB’s money is Mr. Bui Anh Dung (former Chairman of the Board of Directors of SCB). The defendant clearly knew about Ms. Lan’s loans and Van Thinh Phat Group only signed legal documents and loan procedures to disburse, then withdrew SCB’s money.
During the withdrawal process, under Ms. Lan's direction, units at SCB do not appraise customers, do not appraise collateral, do not care about loan options and are monitored separately on SCB's data system.
During his time working at SCB, in addition to his salary and holiday allowance, Mr. Dung was also given 500,000 SCB shares (about 5 billion VND) by Ms. Lan. With the above actions, Mr. Bui Anh Dung is accused of causing a total loss of more than 200,000 billion VND to SCB.
Meanwhile, individuals such as Mr. Vo Tan Hoang Van (former General Director of SCB), Ms. Nguyen Thi Thu Suong (former Chairwoman of SCB's Board of Directors, currently on the run) were identified as helping Ms. Lan withdraw money from SCB, causing a total loss of more than VND101,000 billion to SCB. Mr. Ta Chieu Trung (former Vice Chairman of SCB's Board of Directors) was accused of causing a total loss of more than VND4,700 billion.
In this case, defendant Truong Hue Van (General Director of Van Thinh Phat Group, niece of Ms. Truong My Lan) paid compensation of more than 1,000 billion VND and 3,000 USD. Mr. Chu Lap Co (Chairman of the Board of Directors of Times Square Investment Joint Stock Company, Ms. Lan's husband) paid compensation of 1 billion VND. Ms. Do Thi Nhan (former Director of the Banking Inspection and Supervision Department II under the State Bank) paid compensation of 4.8 million USD and 10 savings books with a total amount of more than 10 billion VND.
In addition, Mr. Nguyen Van Hung (former Deputy Chief Inspector in charge of the Banking Inspection and Supervision Agency under the State Bank) returned 390,000 USD. Tycoon Nguyen Cao Tri (Chairman of the Board of Directors of Van Lang Company and Capella Company) paid over 650 billion VND and over 3,300 USD. Meanwhile, defendant Duong Tan Truoc (General Director of Tuong Viet Trading and Production Company Limited) paid over 52 billion VND and returned over 800 billion VND to SCB...
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