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In a nearly 3-page handwritten appeal, Ms. Truong My Lan appealed many contents of the court's verdict on April 11.
On April 26, the Ho Chi Minh City People's Court received an appeal from Ms. Truong My Lan (68 years old, Chairwoman of Van Thinh Phat Group), but the content has not been announced. In addition, 50 other defendants also filed petitions for a reduction in their sentences.
Currently, the court has not announced the first instance verdict on the agency's electronic information portal, and the defendants and lawyers have not received the verdict even though the law requires it within 10 days.
On April 11, the court sentenced Ms. Truong My Lan to 20 years in prison for the crime.Bribery; 20 years in prison for the crimeViolation of regulations on lending in the operations of credit institutionsand death penalty for the crimeEmbezzlement of property. Total punishment, the defendant must serve the death sentence.
The court determined the damage of the case to be 677,000 billion VND as of October 17, 2022 (case initiation). However, to date, some loans related to Ms. Lan and Van Thinh Phat have been settled, defendant Lan also paid an additional amount to remedy the consequences, so the remaining compensation is nearly 674,000 billion VND.
The first instance verdict determined that since 2011, Ms. Lan had acquired 3 private banks to merge into SCB. Taking advantage of the State's policy in the SCB restructuring project, Ms. Lan acquired the bank as a financial tool to mobilize capital for her personal business and the Van Thinh Phat Ecosystem.
With 91.5% ownership of SCB through many individuals, Ms. Lan directed key leaders at SCB and Van Thinh Phat to create fake documents and withdraw money from SCB. To legalize the withdrawal and avoid detection of violations, Ms. Lan asked SCB officials to transfer disbursed money to "ghost" companies, then withdraw cash or transfer it in a roundabout way to cut off the cash flow. Providing low-value collateral and then inflating it to secure large loans was just a trick to steal people's money deposited at SCB.
In particular, from 2012 to 2017, Ms. Lan directed the creation of fake records for 304 customers, borrowing 368 loans. By 2022, these loans had an outstanding debt of more than 132,000 billion VND in principal and interest. After deducting from the collateral, these loans caused a loss of 64,600 billion VND. Ms. Lan's actions during this period were criminal.Violation of lending regulations in the operations of credit institutions.
From February 2018 to October 2022, Ms. Lan directed the creation of 916 fake loan applications of SCB worth VND 545,000 billion, embezzling VND 304,000 billion; causing a loss of nearly VND 130,000 billion in interest. Because the 2015 Penal Code has changed the way of handling violations that occurred before and after January 1, 2018 (the 2015 Penal Code came into effect), Ms. Lan's actions were considered a crime.Embezzlement of property.
During the 10 years of acquiring SCB, Ms. Lan directed her accomplices to disburse a total of more than 2,500 loans to the group of companies in the Van Thinh Phat Ecosystem. By October 2022, Ms. Lan and Van Thinh Phat's group still had nearly 1,300 loans with an outstanding principal and interest of VND 677,000 billion.
In addition, to conceal the weak state of SCB and help the bank escape special control, Ms. Lan directed her subordinates to bribe the inspection team. In particular, Vo Tan Hoang Van (former general director of SCB) gave Ms. Do Thi Nhan (former director of the State Bank's Inspection and Supervision Department) 4 times the amount of 5.2 million USD; gave money and gifts to members of the inspection team to cover up the violations, creating conditions for SCB to continue restructuring. This act is a crime.Bribery.
During the investigation and trial, Ms. Lan accepted responsibility for the damages caused to SCB. However, she said that her wrongdoing stemmed from her lack of understanding of the Law on Credit Institutions, so she only committed the crime.Violation of regulations on lending in the operations of credit institutionsbut notEmbezzlement of property;not plagiarismbribe
In relation to the case, Ms. Do Thi Nhan (former Director of the State Bank's Inspection and Supervision Department) was sentenced to life in prison by the Ho Chi Minh City People's Court for the crime ofTake bribes, the amount of 5.2 million USD. 3 former leaders of SCB including Dinh Van Thanh, Bui Anh Dung, former chairman of SCB and Vo Tan Hoang Van, former general director of SCB were sentenced to life in prison.
81 other defendants were sentenced from 3 years suspended to 20 years in prison for a series of crimes.Violating regulations on lending in the operations of credit institutions; Violating regulations on banking operations; Embezzlement of assets; Lack of responsibility; Taking advantage of positions and powers while performing official duties; Abusing trust to appropriate assets.
.jpg "Hai Duong's agricultural, forestry and fishery value increased by 7.51% in the first quarter.")
