Niece pleads for Truong My Lan’s Hong Kong property husband tycoon to be let off

The Hong Kong property tycoon is in the dock for allegedly helping Lan launder VND33 billion (US$1.3 million), and prosecutors have a recommended 24-30-month jail sentence.

Van told the People’s Court of HCMC on Monday that she views Chu as an uncle, a father and teacher, and that had contributed greatly to Vietnam during his 30 years living in the country.

"The last two years he spent in custody (during the investigation) is already too cruel for him, I hope the court could consider granting him leniency."

She also pleaded for him the greatest level of leniency for her aunt and chairwoman of property developer Van Thinh Phat.

Lan has been indicted for fraudulent asset appropriation, "money laundering" and illegal cross-border money transfers at a second trial that is ongoing.

Van was the deputy CEO of An Dong and CEO of Windsor, companies that were involved in dozens of fraudulent bond issuances, allegedly masterminded by Lan, that swindled VND30.87 trillion ($1.2 billion) from 35,824 investors.

She was accused of signing documents that helped Lan and her accomplices appropriate VND13 trillion from the bond proceeds and has been recommended for a six- to seven-year sentence.

She has admitted to assisting Lan in defrauding thousands of bond buyers, but claimed she was unaware of her aunt’s plans.

She has claimed to be very remorseful for "hastily" signing documents related to An Dong’s bond issuance and affecting thousands of families and causing "terrible consequences."

Earlier this year Chu and Van were also found guilty of abetting Lan in embezzling money from Saigon Commercial Bank and sentenced to nine and 17 years.

Both have appealed for lighter sentences. Lan was sentenced to death and has also appealed the verdict.