Police recommend money laundering charge against property tycoon Truong My Lan

The Ministry of Public Security, which wrapped up an investigation into their activities, Wednesday accused them of fraudulent appropriation of assets, money laundering and illegal cross-border currency trafficking.

Major General Nguyen Van Thanh of the ministry had said in December that Lan was suspected of investing illegally earned money in major properties.

"We were trying to determine whether she had moved money overseas to invest."

The police also determined that she and her accomplices at property developer Van Thinh Phat issued VND30 trillion worth of bonds through three subsidiaries and appropriated the money.

Details have not been released yet.

This is the second phase of an investigation into Lan, chairwoman of Van Thinh Phat, and her accomplices for wrongdoing at her company and Saigon Commercial Bank (SCB).

The first phase resulted in Lan being tried in HCMC and getting the death penalty for causing losses of VND677 trillion ($27 billion) to SCB.

She has appealed the sentence.