Prosecutors recommend lighter sentences for Truong My Lan's husband and niece

Eric Chu, husband of Van Thinh Phat chairwoman Truong My Lan, seen at the People's Court of Ho Chi Minh City. Photo by VnExpress/Quynh Tran

Acknowledging their remorse and efforts to repay the damages incurred by Saigon Commercial Bank (SCB), the recommendations were made to the People's Court of Ho Chi Minh City on Wednesday.

Prosecutors proposed 10-11 years imprisonment for Lan’s husband Eric Chu, a Hong Kong property tycoon, instead of 11-12 years as they had earlier suggested.

Chu had admitted to his crime at court and only violated the law because of his trust in his wife. He never took part in managing SCB, they added.

Prosecutors proposed 17-18 years imprisonment for Lan’s niece Truong Hue Van, CEO of Van Thinh Phat, down from an earlier recommendation of 19-20 years.

Van has shown remorse and only followed Lan’s order because of trust. She had received government commendations for helping the community in the Covid-19 pandemic and had urged her family to compensate for the losses caused.

Truong Hue Van, niece of Van Thinh Phat chairwoman Truong My Lan, seen at the People's Court of Ho Chi Minh City. Photo by VnExpress/Quynh Tran

Nguyen Cao Tri, chairman of property developer Capella who is accused of appropriating VND1 trillion from Lan, was recommended a lighter sentence of 9-10 years instead of 10-11 years.

Tri had submitted VND761 billion as compensation and his family have contributed much to the society, prosecutors said.

Prosecutors also proposed a lighter sentence of one or two years former SCB and Van Thinh Phat leaders who followed Lan’s orders and for investigators of the State Bank of Vietnam who took bribes to cover SCB's financial issues.

At the ongoing trial prosecutors have recommended the death sentence for Lan for committing severe crimes over a long period and causing irrevocable consequences.

From 2012 to 2022 Lan and her accomplices obtained 2,500 loans worth more than VND1 quadrillion ($44 billion), accounting for 93% of the bank’s loan portfolio during the period.

She is accused of causing losses of VND498 trillion after deducting the value of collateral.