Ms. Truong My Lan's cousin helped to occupy 26,000 billion, now regrets it because she trusts too much

On October 8, the trial of defendant Truong My Lan (former Chairman of the Board of Directors of Van Thinh Phat Group) and 33 other defendants continued with the argument.

At the trial, the defense lawyer for the defendant Truong Vincent Kinh (Chairman of the Board of Directors of Saigon Peninsula Group Joint Stock Company and Sunny World Investment and Development Joint Stock Company - belonging to Van Thinh Phat Group) - Ms. Truong My Lan's cousin said that her client had absolute trust in her sister, should sign contracts, documents and procedures for An Dong Investment Group Joint Stock Company (An Dong Company) to issue bonds.

According to the lawyer, at the time of signing the document, the defendant Truong Vincent Kinh was not conscious and had no thought that would help Ms. Truong My Lan appropriate the assets of bondholders. According to the lawyer, in the impeachment part, the representative of the People's VKS of Ho Chi Minh City. Ho Chi Minh City (Procuratorate) raised extenuating circumstances, the lawyer agreed with the Procuracy and the proposal of the Trial Panel.

However, the defense lawyer also said that, in addition to the extenuating circumstances mentioned by the representative of the Procuratorate, the defendant Truong Vincent Kinh also had extenuating circumstances such as having 3 small children, his wife did not have a job. In addition, the defendant has actively declared to the authorities and his family through the investigator who has paid the remedy mone.y.

Defending himself, defendant Truong Vincent Kinh said that, after being explained by the investigating agency about the wrongdoing, the defendant repented, apologized and apologized to the bondholders and the bondholders' families. The defendant also regretted signing the documents when he absolutely trusted Ms. Truong My Lan.

According to the case file, Truong Vincent Kinh is the cousin of Ms. Truong My Lan. He was arranged and assigned by Ms. Lan to be the General Director, legal representative, then Chairman of the Board of Directors, General Director of SPG Company and Sunny World Company.

Truong Vincent Kinh only manages expertise in the field of real estate project development, investment promotion, and foreign relations. The entire financial segment and financial resources maintain the operation of the unit decided and operated by Truong My Lan.

In the issuance of short bonds, implementing Truong My Lan's policy, Truong Vincent Kinh has duly signed documents and procedures for An Dong Company to issue bonds, currently the outstanding debt is more than VND 24,900 billion, including: Investment cooperation contract between Eastern Company and Saigon Peninsula Company on the investment in the Red Light Cape Park Project; 5 cooperation contracts for loans, regarding the loan of An Dong Company to Saigon Peninsula Company for a total of VND 29,206 billion and 157 authorizations to transfer mone.y from SPG CTY accounts to individuals who are hired to short-term documents.

Although he knew that Sunny World Company had no need to raise mone.y, Truong Vincent Kinh still signed documents and documents to issue bonds of VND 2,400 billion, currently having an outstanding debt of more than VND 1,600 billion. Truong Vincent Kinh's behavior committed the crime of Fraudulently appropriating property as an accomplice, helping Truong My Lan to appropriate 26,581 billion VND.

The trial continued with the presentation of the defense lawyer for the defendant, Kwok Hakman Oliver, General Director of An Dong Company. According to the lawyer, the defendant admitted to the crime as indicted, however, with the crime of Fraudulent appropriation of property, the defendant is only a secondary and dependent accomplice.

According to the lawyer, the defendant did not receive direct direction from the defendant Truong My Lan, but knew the policy of issuing bonds through the defendant Ngo Thanh Nha (General Director of Van Thinh Phat Group, Chairman of the Board of Directors of An Dong Company - Truong My Lan's sister-in-law).

Although he is the General Director of An Dong Company, the defendant is only a dependent, salaried person with the main functions and tasks of running the hotel and An Dong Commercial Center. Defendant Kwok Hakman Oliver did not run and decide on the financial affairs of An Dong Company, which was mainly carried out by the Deputy General Director of Finance.

The defendant only helped Truong My Lan by signing the documents and procedures for legalizing the issuance of bonds of An Dong Company. The act of helping is only limited to a series of acts constituting the crime of deception, only stopping the issuance of bonds of An Dong Company.

According to the lawyer, the defendant is limited by Vietnamese law, so he is not fully aware of his behavior to help other defendants. The lawyer also presented the defendant's mitigating circumstances such as committing the crime for the first time, few serious circumstances, being awarded a certificate of merit from the Chairman of the Ho Chi Minh City People's Committee. Ho Chi Minh City..., should propose the Trial Panel to consider sentencing the defendant to a sentence equal to the period of temporary detention (2 years) to enjoy the leniency of the law.

Truong My Lan case: Lawyer proposed to remove 545 million USD, ask for clemency for Hue Van Gia Nhi12:55:51 08/10/2024On October 8, the 12th day, the first-instance trial of the defendant Truong My Lan (68 years old, Chairman of Van Thinh Phat Group) and 33 accomplices defrauded more than VND 30,869 billion of bondholders, laundered more than VND 445,000 billion, and illegally transported currency across the border of about VND 106,730 billion.