Ms. Truong My Lan, the Chairwoman of Van Thinh Phat Group, faced a severe verdict from Ho Chi Minh City’s court. Rejecting defense arguments, the jury found her guilty of three crimes, resulting in a death sentence and a hefty compensation of nearly 674,000 billion VND.
During the April 11 trial, Ms. Lan, aged 68, received a 20-year prison term for bribery and violating lending regulations in credit institutions, along with the death penalty for embezzlement. Despite initially being stunned by the verdict, she composed herself and listened attentively throughout the proceedings.
The court acknowledged mitigating factors, such as her lack of prior offenses and community contributions, but emphasized the severity of her crimes as a leader orchestrating organized embezzlement, causing irreparable harm. The judgment highlighted the erosion of public trust in the Party and State leadership due to her actions.
Regarding damages, Ms. Lan was ordered to compensate SCB, the affected bank, with over 673,800 billion VND. Although some loans were settled and additional payments made, substantial liabilities remained, totaling over 677,000 billion VND in civil responsibility.Assets were seized to enforce the judgment, reflecting the court’s commitment to upholding justice.
Evidence presented since 2011 revealed Ms. Lan’s acquisition of private banks to merge into SCB, exploiting restructuring policies for personal gain. Through fraudulent schemes and manipulation of records, she siphoned funds from SCB to finance her business interests, causing immense financial harm.
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Source: Vietnam Insider