Van Thinh Phat chairwoman Truong My Lan apologizes in final statement at court

Almost a month into the trial for their alleged appropriation of SCB money, Lan and other defendants were permitted to make allocution statements at the People's Court of Ho Chi Minh City.

The first to speak, Lan said ever since her arrest she has been pondering over why she and her family had to suffer this tragedy in which her husband and niece are also on trial as accomplices.

"It is probably because I joined the banking industry without experience in it. Due to my lack of understanding of legal matters, I could not foresee being dragged into the restructuring of SCB and therefore did the wrong things."

She believed that she would be successful in restructuring the bank and therefore put up her family’s assets as collateral for loans from SCB, she said.

Therefore, it is painful to be accused of masterminding a scheme to appropriate SCB’s assets, she said.

"I earnestly request the judges to reconsider and show evidence for the embezzlement and bribery charges against me."

Lan said she and other SCB and Van Thinh Phat executives might have violated banking regulations, but she was not the main culprit of the wrongdoing.

She wanted the court to recognize her and other defendants’ efforts to make SCB the fifth biggest lender by assets behind only the four state-owned banks.

"My heart breaks whenever I leave the court in the prisoners’ vehicle as I see the hands of my family members waving."

Lan, for whom the prosecution has recommended the death sentence, said during the trial her family has been trying to submit all the assets it can to compensate for the losses caused.

She sought leniency for her husband Eric Chu and niece Truong Hue Van, CEO of Van Thinh Phat.

Prosecutors have sought 10-11 years imprisonment for Chu and 17-18 years for Van.

Former SCB chairman Bui Anh Dung seen at the People's Court of Ho Chi Minh City. Photo by Hoang Hung

Also Wednesday former SCB chairman Bui Anh Dung told the court he felt remorse for what he had done and sought clemency, saying: "I am 63 now and my mother is over 80. The proposed life sentence means I will never see her again."

Dung is accused of approving 404 loans to property developer Van Thinh Phat’s chairwoman, Truong My Lan, and her subordinates between 2013 and 2022, causing losses of VND213.9 trillion (US$8.62 billion) to the bank.

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 total lending during the period.

She is accused of causing losses of VND498 trillion.