Truong Hue Van receives a salary of 80 million/month, not enough finance to overcome the consequences

On the afternoon of September 23, the People's Court of Ho Chi Minh City. Ho Chi Minh City continues the trial of the defendant Truong My Lan and 33 defendants in the case related to Van Thinh Phat Group Joint Stock Company, Saigon Commercial Joint Stock Bank ( SCB) and related units.

This is the 3rd day since the trial was opened. In the previous 2 days, the presiding judge questioned 19 defendants related to the act of fraudulently appropriating assets in the issuance of bonds of An Dong, Sunny World, Quang Thuan and Setra companies.

Thus, related to the act of fraudulently appropriating assets through the issuance of short bonds, 10 defendants will be questioned, including former Chairman of the Board of Directors of Van Thinh Phat Group Truong My Lan.

As the first person to be questioned, the defendant Truong My Lan said that Van Thinh Phat Group did not need to issue bonds because it was not related to the field of banking and finance and if it did, Van Thinh Phat Group was eligible to issue.

The defendants have declared before the court to admit the offense as stated in the indictment and keep the statements they have testified at the investigating agency. The testimonies all point to the key role of Ms. Truong My Lan (former Chairman of the Board of Directors of Van Thinh Phat Group) in directing and organizing these illegal activities.

According to the t.estimony, from 2018 to 2020, the defendant Truong My Lan was the one who proposed and directed the implementation of the wrongdoings. Ms. Lan directed the defendants Dinh Van Thanh (Chairman of the Board of Directors of SCB), Vo Tan Hoang Van (General Director of SCB), Nguyen Phuong Hong (Deputy General Director of SCB; assistant of Van Thinh Phat Group), Nguyen Tien Thanh (Chairman and General Director of TVSI Securities Company), and Ho Buu Phuong (Deputy General Director of VTP Group), using An Dong, Sunny World, Quang Thuan and Setra Companies to issue 25 "short" bond codes, that is, have no real value. They sold these bonds to investors and earned a total of more than VND 30,000 billion.

This m.oney was then used by Truong My Lan for many different purposes, not in line with the original goal of issuing bonds, leading to the inability to repay debts to investors.

The defendants all admitted that the prosecution of the Supreme People's Court was the right person, the right crime and there was no wrongdoing. They affirmed that apart from salaries, they did not benefit from the issuance of bonds. The defendants also stated that they only followed Truong My Lan's instructions and were not fully aware of the seriousness of the act. They expressed regret, committed to financial arrangements to overcome the consequences and hoped that the Board of Directors would consider mitigating the penalty.

During the interrogation, regarding the issuance of bonds of An Dong Company, the defendant Hue Van said that at that time the defendant only managed commercial and service buildings, but did not know about financial activities. Defendant Van affirmed that he did not participate in any decisions or meetings related to the issuance of bonds and due to work pressure, the defendant did not remember how many papers or contracts he signed, but only signed in pre-marked places.

Defendant Van also admitted that he would be responsible for his behavior. However, the defendant explained that he was only a hired worker with a salary of 80 million VND/month and was unable to overcome the great damage caused by the case. However, the defendant pledged to try to mobilize the family to overcome some of the consequences.

In the end, the defendant Van expressed remorse and affirmed that he did not intend to deceive or appropriate anyone's m.oney. The defendant apologized for his actions affecting the v.ictim's family and hoped to receive forgiveness.

Van Thinh Phat case: It is difficult for Truong My Lan to escape the d.eath sentence, what will happen to Thanh Bui's wife? Bảo Nam17:18:01 10/04/2024After more than a month of trial and deliberation, on April 11, the jury will pronounce sentence on defendant Truong My Lan and 85 other defendants in the case that occurred at Van Thinh Phat Group and Joint Stock Commercial Bank. Saigon (SCB) and related organizations.