Van Thinh Phat case: Ms. Truong My Lan exposed 2 super projects, expected to earn more than 200 trillion

On November 12, the High People's Court in Ho Chi Minh City continued to open the appeal trial of defendant Truong My Lan, former Chairwoman of the Board of Directors of Van Thinh Phat Group, along with 47 other defendants related to violations at Van Thinh Phat, SCB Commercial Joint Stock Bank and several other organizations.

In court, defendant Truong My Lan said that it was only when she appeared in court that she realized that the bank restructuring process had violated the law, causing her to lose money and fall into legal trouble. The defendant said that she did not sign any documents at SCB nor withdraw money from this bank, only borrowed new money to repay old ones, but would commit to taking responsibility for SCB employees.

When the representative of the Procuracy asked about the 658 asset codes in Appendix 9 of the case file, Ms. Lan said that among them were two large projects, the Saigon Port project and the Amigo super project, which if developed at the right time, could bring in a value of no less than VND 200,000 billion.

The defendant asserted that these 658 asset codes were not used as security for any other loans, so she was willing to use them to remedy the consequences for SCB.

When asked about the 440 undetermined asset codes, which on the books are worth about 620,000 billion VND, Ms. Lan estimated the actual value to be only about 100,000 billion VND based on personal experience. Regarding project 6A, she said that according to the valuation of Hoang Quan Company, this project is worth about 16,000 billion VND.

Regarding the VND5,000 billion that she paid into SCB to increase capital, Ms. Lan stated that part of it was her personal money, the rest belonged to others. She voluntarily paid this amount to remedy the consequences of the case. Previously, after the first instance trial, she and her family paid an additional VND580 billion to help remedy the consequences.

The representative of the People's Procuracy requested the defendant Truong My Lan to present a specific plan to remedy the consequences of the case. Ms. Truong My Lan said that the defendant must be responsible for compensating SCB 673,000 billion. However, the defendant estimated that the total amount that organizations and individuals must pay the defendant is about 21,000 billion... The defendant requested that the authorities compare and take measures to recover to ensure the execution of the judgment.

Regarding Project 6A in Trung Son area, Binh Chanh district, which is not guaranteeing any loans, defendant Truong My Lan voluntarily put it into practice to remedy the consequences. SCB representative accepted this request when invited by the panel of judges to confront.

Regarding the origin of Project 6A, defendant Lan said that this was a project invested by VTP Group, with full legal status, and had paid all land use fees..., then SCB borrowed this project to restructure. "Not long before the defendant was arrested, many people asked to buy it, the price was about 40,000 billion VND", defendant Truong My Lan stated.

Regarding the amount of 5,000 billion VND that was put into increasing charter capital for SCB (this amount belongs to defendant Truong My Lan and about 150 billion belongs to other shareholders), the defendant asserts that he has full authority to represent to reclaim and handle this capital.

SCB representative confirmed that SCB's documents have not recorded this amount, but SCB did receive this amount but it is unclear whether the entire amount belonged to Ms. Truong My Lan or not. This amount has been "mixed into the cash flow" of SCB. SCB will review the details and respond in writing.

Responding to the People's Court, defendant Ta Chieu Trung (General Director of Viet Vinh Phu Joint Stock Company, former Vice Chairman of the Board of Directors of SCB) said that he only remembered the amount of VND 5,000 billion to SCB around 2021, and to know specifically who it belonged to, he had to review the documents. Regarding the 658 asset codes that did not secure this loan (apartments, project red books... in Ho Chi Minh City and some provinces and cities), defendant Truong My Lan also voluntarily put them in to remedy the consequences.

Truong My Lan case: Total assets and evidence seized worth thousands of billions of dong Trí Nhi14:56:22 18/11/2024The Ho Chi Minh City Civil Judgment Enforcement Department has just sent a document to the High People's Court in Ho Chi Minh City providing information on the receipt of evidence and the amount of compensation paid by the parties in the Van Thinh Phat case.