Truong My Lan "washed" more than 445,700 billion VND, the Department of Prevention and Control did not know

PinkyJun 09, 2024 at 13:29

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Continuing further investigation in the Truong My Lan case, Van Thinh Phat's owner in 4 years has "laundered" the amount of more than 445,700 billion VND. The Department of Prevention and Control was also unaware of her embezzlement process.

In phase 2 of the Van Thinh Phat case, the Chairman of this group, Ms. Truong My Lan was accused of defrauding more than VND 30,000 billion of bond investors. At the pre-case stage, Ms. Lan was determined to embezzle more than 415,000 billion VND.

The total of the above two amounts, which is more than 445,000 billion VND, was "washed" by Truong My Lan by using thousands of legal entities and individuals to transfer m.oney around, withdraw cash for spending and investment. This took place in the period 2018 - 2022.

Truong My Lan washed more than 445,700 billion VND, the Department of Prevention and Control did not know - Photo 1

According to the investigation, in the period from the merger of SCB Bank to the prosecution of the case, in the period 2012 - 2022, this bank submitted 3,160 report files to the Anti-Money Laundering Department of the State Bank Supervision Inspection Agency.

The report files show that there are more than 313,000 electronic m.oney transfers, transactions of $1,000 or more or in other foreign currencies of equivalent value. The total amount of transfers and receipts under these transactions is more than 489,688,700 million VND, equivalent to more than 22.2 billion USD. In which, there were only 151 suspicious transactions.

Police verification shows that the Department has the role of receiving information and reports from organizations in accordance with the law on prevention and combat of m.oney laundering and other information related to crimes.

Truong My Lan washed more than 445,700 billion VND, the Department of Prevention and Control did not know - Photo 2

Ms. Truong My Lan was investigated for 4 years and laundered more than 415 trillion VND.

The Government further stipulates that the basis for determining electronic m.oney transfer transactions related to this activity is subject to criminal handling; people on the warning list of the State Bank or countries around the world...

Comparing the above regulations, more than 313,000 m.oney transfer transactions at SCB are not subject to the Department's monitoring. The investigating agency therefore determined that the Department had no basis to determine transactions at SCB related to this activity, transporting m.oney of companies in the Van Thinh Phat group.

Truong My Lan washed more than 445,700 billion VND, the Department of Prevention and Control did not know - Photo 3

With 151 suspicious transaction reports sent by SCB Bank to the Department, the police said that among these there was no list of 85 companies of Van Thinh Phat group transferring m.oney abroad and 63 units receiving m.oney from abroad to Vietnam. Therefore, the Department has no basis to analyze and doubt the m.oney transfer of the business group of Van Thinh Phat.

In addition to m.oney laundering, "Truong Muoi" and his accomplices were also accused by the police of illegally transferring more than 4.5 billion USD across the border, including transferring more than 1.5 billion USD abroad and receiving 3.0 billion USD. Ms. Lan declared that the m.oney transferred to Vietnam was a loan, and in the opposite direction was to repay the debt.

Truong My Lan washed more than 445,700 billion VND, the Department of Prevention and Control did not know - Photo 4

The police also verified the responsibility of the Foreign Exchange Management Department of the State Bank of Vietnam. However, this unit: "It does not have the function of examining and inspecting foreign exchange activities of organizations and individuals in general as well as foreign exchange transactions to transfer m.oney abroad or to Vietnam in particular".

The Foreign Exchange Management Department only statistics and monitors data on the basis of the general report data of each bank, there is no transaction data of each specific organization or individual. In the process of monitoring the aggregate data provided by SCB, the Foreign Exchange Surveillance Department has no basis to detect irregularities in the aggregate data on m.oney going abroad and receiving m.oney from abroad transferred to Vietnam.

Truong My Lan washed more than 445,700 billion VND, the Department of Prevention and Control did not know - Photo 5

The authorities are also unaware of this slippery slope of Truong My Lan.

The investigating agency therefore affirmed that there was no basis to consider the responsibility of the Department and the Department of Foreign Exchange Surveillance in violating regulations on international m.oney transfers by subjects and companies belonging to Van Thinh Phat and SCB.

Truong My Lan washed more than 445,700 billion VND, the Department of Prevention and Control did not know - Photo 6

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