Ms. Truong My Lan asked for back 2 albino Hermès bags, the court decided to confiscate them for 2 reasons.

According to the People's Court, of the two white Hermes bags of defendant Truong My Lan that are being confiscated, one is derived from criminal proceeds and the other is derived from private property, so it should continue to be confiscated.

In the first instance verdict that the People's Court of Ho Chi Minh City announced in the Van Thinh Phat mega case phase 2, in addition to sentencing Ms. Truong My Lan (Chairwoman of Van Thinh Phat Group) to life in prison for the three crimes of "Fraudulent appropriation of property", "Money laundering", "Illegal transportation of currency across the border" and the remaining 33 defendants to between 2 and 23 years in prison, the People's Court also announced the civil part.

According to the verdict, at the trial, Ms. Truong My Lan stated that at the time of her temporary detention, two albino Hermès bags were confiscated. Of these two bags, one was purchased by Ms. Lan in Italy and the other was given to Ms. Lan by a Malaysian tycoon and Ms. Lan wanted the panel of judges to let her keep these two bags as souvenirs.

"When arrested, the defendant had two albino Hermès bags confiscated. One I bought in Italy and the other was given to me by a Malaysian tycoon. These bags are not worth much, and the defendant wants to leave them to his children and grandchildren as souvenirs. Therefore, I would like the Court to consider allowing the defendant to get back these two bags."

Immediately after that, the keyword "albino Hermès bag" was quickly searched and surprised everyone because of its huge value. It is known that this type of bag is one of the most difficult to find handbags in the world with a value ranging from several billion VND and up.

At the request of the Chairman of the Board of Directors of Van Thinh Phat, according to the People's Court, one bag originated from criminal proceeds and the other came from private property, the People's Court decided to confiscate both bags.

According to the verdict, the entire amount of nearly 31,000 billion VND that the defendants fraudulently appropriated was used by Ms. Truong My Lan for personal purposes, so Ms. Lan must compensate all damages to the victims.

Regarding the handling of the assets that are being seized and frozen in the case, the panel of judges declared that: Regarding 100% of the shares at Twin Peaks Joint Stock Company, the company owns the Capital Place building at 29 Lieu Giai, Hanoi, which is a building mortgaged to 3 foreign banks. Ms. Lan requested the seizure to be released to pay the foreign bank, the remaining amount to be used to remedy the consequences. In addition, Twin Peaks Company also requested the panel of judges to declare the seizure release.

The panel of judges held that this credit relationship was legal, registered as a secured transaction in accordance with the law, and therefore cancelled the seizure order and assigned the three banks to handle debt collection in accordance with regulations. The handling of the banks' assets must be under the supervision of the Supreme People's Procuracy, the Ministry of Public Security's Investigation Police Agency and the competent enforcement agency. The remaining value of the assets after paying the debt to the banks will be used to remedy the consequences of the case.

Regarding the Ben Thanh Project, at this trial, Bitexco Group confirmed that it received over 15,000 billion VND from Ms. Lan and her partner. Bitexco Group and Van Thinh Phat Group agreed to transfer this project for 22,000 billion VND. The panel of judges decided to transfer it to the Ministry of Public Security's Investigation Police Agency for clarification and settlement according to the provisions of law.

The People's Court also decided to continue to seize 82% of the capital contribution at FWD Vietnam Insurance Company Limited, 77.89% of the shares of Dong Duoc 5 Pharmaceutical Joint Stock Company, 84.82% of the capital contribution at Ngoc Vien Dong Urban Development Investment Company Limited, 13.23% of the shares at Sao Thuy Investment Joint Stock Company...

Regarding the 18% capital contribution of Setra Company, Vietcombank - Bonday - Ben Thanh Joint Venture Company Limited (Vietcombank Building, Ho Chi Minh City). Vietcombank requested the Court to cancel the seizure order so that Vietcombank and Setra Company can continue to transfer at the price of VND920 billion. Ms. Lan agreed to transfer this 18% of shares to remedy the consequences.

The panel of judges decided to continue to seize these shares, and Vietcombank submitted to the Enforcement Agency documents and related evidence proving the transfer was at the correct market price.

The panel of judges also decided to continue assigning the Investigation Agency to verify and clarify the assets of the wanted defendants and the deceased defendants, in order to handle them according to the provisions of law.

Defendant Truong My Lan was recommended a life sentence in the Van Thinh Phat case phase 2 An Nhi15:44:49 04/10/2024On October 4, the People's Court of Ho Chi Minh City continued the trial of phase 2 of the case related to Van Thinh Phat Group Joint Stock Company. The representative of the HCMC People's Prosecutor's Office made allegations and recommended the sentence for each defendant.