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property tycoon Truong My Lan

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Truong My Lan offers HCMC ‘mega project’ to compensate defrauded bond buyers

Truong My Lan offers HCMC ‘mega project’ to compensate defrauded bond buyers

Chairwoman of property developer Van Thinh Phat Truong My Lan has offered nearly 300 assets, including a 11,000-square-meter “mega project” in downtown HCMC, to compensate bond fraud victims at her latest trial.
Truong My Lan offers personal assets to compensate bond fraud victims, denies culpability

Truong My Lan offers personal assets to compensate bond fraud victims, denies culpability

Truong My Lan has denied accusations she masterminded a VND30-trillion ($1.2 billion) bond scheme fraud, but expressed willingness to use her personal assets to compensate victims.
September 23, 2024 | 08:10 pm PT
'Our family members bought fraudulent bonds': SCB leaders who abetted Truong My Lan

'Our family members bought fraudulent bonds': SCB leaders who abetted Truong My Lan

Two top executives of Saigon Commercial Bank stated they were unaware of the fraudulent nature of Truong My Lan's bond scheme at the time and said that their own family members were among the victims.
September 22, 2024 | 08:35 pm PT
How Truong My Lan moved $20B across borders undetected

How Truong My Lan moved $20B across borders undetected

Property tycoon Truong My Lan moved VND489 trillion (US$20 billion) in and out of Vietnam over 10 years without attracting suspicion because her companies were not under surveillance.
September 20, 2024 | 12:34 am PT
Truong My Lan defrauded 35,000 investors through fake bond issuances: prosecutors

Truong My Lan defrauded 35,000 investors through fake bond issuances: prosecutors

Property tycoon Truong My Lan masterminded a scheme to swindle VND30 trillion ($1.2 billion) from 35,000 bond investors, the prosecutor’s office has said in an indictment.
July 16, 2024 | 03:26 pm PT
Prosecutors claim Truong My Lan confessed to $4.5B illegal cross-border transactions

Prosecutors claim Truong My Lan confessed to $4.5B illegal cross-border transactions

Property tycoon Truong My Lan has confessed she carried out illegal cross-border transactions worth US$4.5 billion, according to prosecutors.
July 15, 2024 | 06:08 pm PT
How Truong My Lan appropriated $1.2B from bond issuances

How Truong My Lan appropriated $1.2B from bond issuances

The police have identified property tycoon Truong My Lan as the mastermind behind a scheme to issue bonds worth VND30.87 trillion (US$1.2 billion) retail investors and never redeem them.
June 6, 2024 | 08:15 pm PT
Police recommend money laundering charge against property tycoon Truong My Lan

Police recommend money laundering charge against property tycoon Truong My Lan

The police have recommended charges of money laundering and fraud against convicted property tycoon Truong My Lan and 33 others.
June 5, 2024 | 06:30 pm PT
Truong My Lan's business partner seeks to pay half of $113M ordered by court

Truong My Lan's business partner seeks to pay half of $113M ordered by court

Quoc Cuong Gia Lai, a developer who did business with property tycoon Truong My Lan, has appealed a court verdict related to refunding monies received from the latter.
May 6, 2024 | 07:48 pm PT
Van Thinh Phat chairwoman Truong My Lan appeals death sentence in $27B scam

Van Thinh Phat chairwoman Truong My Lan appeals death sentence in $27B scam

Truong My Lan, the chairwoman of property developer Van Thinh Phat, who was sentenced to death in a $27 billion fraud case, has filed an appeal challenging her initial verdict.
April 26, 2024 | 05:28 am PT
Van Thinh Phat associated companies have bonds worth $2B outstanding

Van Thinh Phat associated companies have bonds worth $2B outstanding

Twenty four sister and partner companies of property developer Van Thinh Phat have issued bonds worth VND52.4 trillion ($2.06 billion), with over 30% overdue for redemption.
April 22, 2024 | 11:40 pm PT
How Truong My Lan’s assets to be used to compensate lender SCB in $27B scam

How Truong My Lan’s assets to be used to compensate lender SCB in $27B scam

Saigon Commercial Bank (SCB) is authorized to liquidate the 1,122 assets provided as collateral by Van Thinh Phat chairwoman Truong My Lan for loans, using them to offset the debts incurred in the $27B fraud.
April 11, 2024 | 08:32 pm PT
Van Thinh Phat employees decry proposed sentences as too harsh

Van Thinh Phat employees decry proposed sentences as too harsh

Some subordinates of Van Thinh Phat chairwoman Truong My Lan have called prosecutors’ recommendations of 20-year jail sentences for them too harsh for merely following orders.
March 25, 2024 | 08:52 pm PT
Truong My Lan seeks to give niece, husband $66M to fully compensate SCB

Truong My Lan seeks to give niece, husband $66M to fully compensate SCB

Van Thinh Phat chairwoman Truong My Lan has sought judicial permission to give her niece and husband VND1.65 trillion (US$66.56 million) to enable them to compensate Saigon Commercial Bank.
March 21, 2024 | 11:32 pm PT
 
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