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How Truong My Lan carried out $4.5B illegal cross-border transactions

How Truong My Lan carried out $4.5B illegal cross-border transactions

Property tycoon Truong My Lan used shell companies and fake contracts to transfer US$4.5 billion worth of money to and from foreign countries over a decade, the police said.
How much have police seized from death row convict and tycoon Truong My Lan?

How much have police seized from death row convict and tycoon Truong My Lan?

Niece helped Truong My Lan pocket $511M from bond fraud: police

Niece helped Truong My Lan pocket $511M from bond fraud: police

State Audit Office says no role in SCB violations

State Audit Office says no role in SCB violations

Private auditors should be held responsible for the wrongdoing at Saigon Commercial Bank and not the State Audit Office, an official has said.
June 5, 2024 | 08:01 pm PT
Police urge victims to come forward in $1B Van Thinh Phat bond fraud

Police urge victims to come forward in $1B Van Thinh Phat bond fraud

Many victims “defrauded” by property developer Van Thinh Phat through a VND30 trillion (US$1.18 billion) bond issuance have yet to file complaints, hindering the investigation, the police said.
May 15, 2024 | 07:12 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
Court orders businesses to return $400M to Van Thinh Phat chairwoman Truong My Lan

Court orders businesses to return $400M to Van Thinh Phat chairwoman Truong My Lan

Property developers with ongoing projects with Truong My Lan’s companies have been told to return VND10 trillion (US$399.6 million) in cash and 1,000 taels (37.5 gm) of gold they were paid and rescind the deals.
April 13, 2024 | 03:15 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
Central bank official gets life imprisonment for receiving $5.2M bribes

Central bank official gets life imprisonment for receiving $5.2M bribes

Do Thi Nhan, head of the banking inspection department under the State Bank of Vietnam, received life imprisonment on Thursday for taking $5.2 million in bribes to cover the wrongdoing at Saigon Commercial Bank.
April 11, 2024 | 03:17 am PT
Three Saigon Commercial Bank executives receive life sentences in $27B fraud case

Three Saigon Commercial Bank executives receive life sentences in $27B fraud case

Two chairmen and a CEO of Saigon Commercial Bank (SCB) were sentenced to life for involvement in a financial fraud causing the lender losses of VND677 trillion ($27 billion).
April 11, 2024 | 02:46 am PT
Truong My Lan's Hong Kong tycoon husband handed 9-year jail term

Truong My Lan's Hong Kong tycoon husband handed 9-year jail term

Hong Kong property magnate Eric Chu was given a nine-year prison sentence on Thursday for aiding his wife, Truong My Lan, in a fraud that led to a VND677 trillion ($27 billion) loss at Saigon Commercial Bank (SCB).
April 11, 2024 | 02:20 am PT
Van Thinh Phat chairwoman Truong My Lan’s niece gets 17 years imprisonment

Van Thinh Phat chairwoman Truong My Lan’s niece gets 17 years imprisonment

Truong Hue Van, CEO of property developer Van Thinh Phat, was sentenced to 17 years in prison Thursday for helping her aunt Truong My Lan in a scheme that caused VND677 trillion ($27 billion) loss to lender SCB.
April 11, 2024 | 01:54 am PT
Van Thinh Phat chairwoman Truong My Lan sentenced to death in $27B scam

Van Thinh Phat chairwoman Truong My Lan sentenced to death in $27B scam

Van Thinh Phat chairwoman Truong My Lan on Thursday was sentenced to death for leading a scam that caused damages of VND677 trillion ($27 billion) to the Saigon Commercial Bank (SCB).
April 11, 2024 | 12:49 am PT
Van Thinh Phat chairwoman Truong My Lan deserves 'toughest sentence': court

Van Thinh Phat chairwoman Truong My Lan deserves 'toughest sentence': court

Truong My Lan, chairwoman of property developer Van Thinh Phat, deserves the toughest sentence for appropriating assets from Saigon Commercial Bank, judges said on Thursday.
April 10, 2024 | 08:07 pm PT
 
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