In preparation for the second phase of the Van Thinh Phat trial, the court announced that victims whose names are not yet on the bond ownership list should continue to submit applications for consideration according to regulations.
Regarding the case of fraud, appropriation of property; money laundering; illegal transportation of currency across the border by Truong My Lan and 33 other defendants, the People’s Court of Ho Chi Minh City continues to notify investors who bought bonds of the following companies: An Dong Investment Group Joint Stock Company; Sunny Word Investment Joint Stock Company; Quang Thuan Investment Joint Stock Company and Ho Chi Minh City Service and Trade Joint Stock Company (Setra).
Accordingly, victims whose names are not yet on the list of bond owners attached to the investigation conclusion of the Ministry of Public Security’s Investigation Police Agency; who have not yet submitted their applications to the Ho Chi Minh City People’s Court, will continue to submit their applications for consideration according to regulations. The deadline for receiving applications is August 30, 2024.
After this date, the Ho Chi Minh City People’s Court will not accept compensation requests from bond owners of the above 4 companies. The rights of individuals will be resolved through civil cases if the parties request in accordance with the provisions of the Law.
According to the prosecution of the People’s Procuracy, Ms. Truong My Lan and her accomplices issued 25 fake bond packages, with a total value of more than 30,869 billion VND, without collateral. To date, these bond packages still have an outstanding debt of more than 30,081 billion VND from more than 35,000 investors, with no ability to pay.
To conceal the source of money from the bond issuance and 415,000 billion VND from the act of “embezzlement of assets” from SCB Bank’s money source, Ms. Lan directed her subordinates to coordinate and plan to withdraw and transfer money out of the banking system, using it for different purposes.
Regarding the act of “Illegally transporting currency across the border”, according to the accusation, from 2012-2022, whenever she needed to use money to transfer abroad to pay debts and receive loans from abroad, Ms. Truong My Lan assigned Trinh Quang Cong (General Director of SPG Company) to coordinate with Nguyen Phuong Anh (Deputy General Director of SPG Company), Chiu Bing Keung Kenneth (lawyer assigned to manage foreign companies) to establish “fake” contracts to buy and sell shares, capital contributions, and consulting between companies in Vietnam and companies and organizations abroad (all of which are “ghost” companies).
Through these “fake” contracts, loans are transferred from abroad to Vietnam and debt repayments are transferred from Vietnam to abroad through the SCB Banking system.
The total amount of money that Ms. Lan and her accomplices illegally transported across the border was more than 4.5 billion USD, equivalent to 106,000 billion VND.