Defendant Truong My Lan was recommended a life sentence in the Van Thinh Phat case phase 2

On 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.

Information from Vietnamnet, according to a representative of VKS, the criminal acts of the defendants have affected social order, domestic and foreign investment.

For the act of "Fraudulent appropriation of assets", the defendant Truong My Lan is the one who dominates and operates all activities of Van Thinh Phat Group (VTP) and the VTP ecosystem. Defendant Lan directed subordinate employees to use 4 companies of VTP Group (including An Dong, Quang Thuan, Sunny World and Setra companies) to issue 25 "short" bond codes, without collateral.

The issuance of bonds aims to increase the size of capital, develop business activities, invest in projects and restructure debts. The total volume of bonds issued illegally is 308 million, with a value of more than 30,000 billion VND.

After receiving the policy of the defendant Lan, the defendant Truong Khanh Hoang (former acting General Director of SCB Bank) directed his subordinates to come up with a plan to run short cash flows, create primary investors to help Setra Company issue bonds in contravention of the law.

Defendant Tran Thi My Dung (former Deputy General Director of SCB Bank) received the direction of defendant Hoang and received the short cash flo.w plan prepared by Trinh Quang Cong and Nguyen Phuong Anh. Next, Dung directed Bui Anh Dung (former Director of SCB Bank Ben Thanh branch) to legalize documents, issue short cash flo.w orders, account on the SCB banking system, help Setra Company issue bonds in contravention of the law.

Under the direction of defendant Lan, defendant Truong Hue Van signed contracts and false documents for Windsor Real Estate Management Group Joint Stock Company to transfer VND 13,000 billion to An Dong Company to buy primary, helping Truong My Lan and her accomplices to issue 2 illegal bond codes.

There were 25 other defendants who actively helped the bond issuance to be successful, creating conditions for the defendant Truong My Lan to appropriate more than VND 30,000 billion from the victims.

Defendant Truong Hue Van

For the act of "Mone.y laundering", in order to conceal the origin of the amount of VND 445,000 billion obtained from the criminal act of embezzlement of assets of SCB Bank and the issuance of bonds, the defendant Truong My Lan directed his subordinates to plan to withdraw and transfer mone.y from this banking system.

Regarding the act of "Illegally transporting currency across the border", every time it is necessary to transfer mone.y abroad to repay debts or receive loans from abroad to transfer to Vietnam, the defendant Lan has assigned his subordinates to make "short" contracts for the purchase and sale of shares, contributed capital, consulting, etc loans between companies in Vietnam and overseas companies and organizations. Through these "short" contracts, loans are transferred from abroad to Vietnam and debt repayments are transferred from Vietnam to abroad through the SCB banking system.

Regarding extenuating circumstances, at the trial, most of the defendants sincerely declared, repented, their families made meritorious contributions to the revolution, and were awarded many certificates of merit and certificates of merit. The defendants Truong My Lan, Truong Hue Van, Ngo Thanh Nha... have made many contributions to charity activities.

Defendant Chu Lap Co

According to the Employee, based on the analysis and arguments stated, the representative of the HCMC People's Democratic Party proposed that the Judicial Council pronounce a sentence corresponding to each defendant.

Defendant Truong My Lan was sentenced to life imprisonment for the crime of "Fraudulent appropriation of property", 8-9 years in prison for the crime of "Illegally transporting currency across the border"; and 12-13 years in prison for the crime of "Mone.y Laundering". Previously, at the first-instance judgment in phase 1 of the case tried by the Ho Chi Minh City People's Court, the defendant Lan was recommended a second instance sentence for the crimes of "Embezzlement of assets" and "Mone.y laundering". The total penalty is life imprisonment.

Defendant Truong Khanh Hoang was recommended 9-10 years in prison for the crime of "Fraudulent appropriation of property", 6-7 years for the crime of "Illegally transporting currency across the border", 9-10 years for the crime of "Mone.y laundering".

Defendant Vo Tan Hoang Van was recommended 12-13 years for the crime of "Illegally appropriating property", 5-6 years for the crime of "Illegally transporting currency across the border". The total penalty is from 17-19 years in prison.

Defendant Tran Thi My Dung was recommended for 7-8 years for the crime of "Mone.y laundering", 7-8 years for the crime of "Fraudulent appropriation of property". The total penalty for both crimes is from 14-16 years in prison.

Defendant Truong Hue Van was recommended to be sentenced to 6-7 years in prison for the crime of "Fraudulent appropriation of property". Defendant Chu Lap Co was recommended for 24-30 months in prison for the crime of "Mone.y laundering".

The remaining defendants were also recommended from 30-36 months in prison to 17-20 years in prison.

In terms of civil, VKS proposed to force the defendant Truong My Lan to compensate for all the damages of the case; confiscated more than 1.7 trillion VND from organizations and individuals that voluntarily remedied damage; distrained all assets, shares and shares of the defendant Truong My Lan; distraining the assets, shares and stocks of the defendants without compensation for damage.

VKS proposes to continue to distrain the number of shares, shares... of Truong My Lan to ensure judgment enforcement. The remaining civil relations will be settled in accordance with the law. The entire amount recovered from the case, including the first-instance judgment of phase 1, will be used to remedy the consequences for the victims.

Hong Kong billionaire proposes to "save" Truong My Lan, wife Thanh Bui gets reduced sentence Đình Như17:20:52 03/04/2024Recently, during the trial of Van Thinh Phat and SCB cases, Mr. Phan Trung Hoai, the lawyer of the defendant Truong My Lan, unexpectedly sent to the Trial Council a document dated March 27 of Dr. Justin Chiu, CEO of CK Asset Holdings Limited.