Ms. Truong My Lan appealed the entire verdict of the Van Thinh Phat case, phase 2.

On December 12, Mr. Pham Ngoc Duy, Chief of Office of the People's Court of Ho Chi Minh City, said that the City People's Court has announced an appeal in the case at Van Thinh Phat Group (phase 2).

Accordingly, defendant Truong My Lan appealed the entire first instance verdict, 28/33 remaining defendants appealed for a reduced sentence and asked for a suspended sentence.

Seven people with related rights and obligations in the case also appealed to review the judgment related to their assets.

On the side of the victims who bought the bonds, 10 people appealed because their names were not on the list of victims. 26 victims appealed to request payment of interest and principal according to the signed bond purchase contract.

Previously, on October 17, the Ho Chi Minh City People's Court sentenced defendant Truong My Lan and 33 other defendants in the case that occurred at Van Thinh Phat Group (VTP), Saigon Commercial Joint Stock Bank (SCB) and related units, in phase 2. The 34 defendants were brought to trial for fraud, appropriation of property, money laundering, and illegal transportation of currency across the border.

Accordingly, the Trial Panel sentenced defendant Truong My Lan to life in prison for fraud and appropriation of property, 12 years in prison for money laundering and 8 years in prison for illegally transporting currency across the border, totaling a sentence of life in prison.

Regarding civil liability, the first instance judgment ordered defendant Truong My Lan to compensate more than 30,000 billion VND to more than 35,000 victims.

According to the first instance verdict, defendant Truong My Lan proposed using companies under the VTP Group to issue bonds; discussed with accomplices who are key personnel of the VTP Group, SCB, and TVSI Company to select and use 4 companies under the VTP Group, An Dong, Sunny World, Quang Thuan, and Setra, to issue 25 fake bond codes with a total volume of 308,691,388 bonds to mobilize capital, appropriating more than VND 30,000 billion from more than 35,000 victims.

After collecting money from the people, the defendants used fraudulent methods and tricks; used people's money for many different purposes such as paying old debts, personal expenses...

In addition, defendant Lan also directed other defendants to transfer money out of the SCB system or for individuals and legal entities to withdraw cash from their accounts in order to cut off the cash flow to conceal and legalize the illegal origin of the VND 445,000 billion from crimes.

In the crime of illegally transporting currency across the border, although the defendants did not physically carry money across the border, they took advantage of bank payments and foreign exchange transactions to transport money across the border with an exceptionally large amount of 4.5 billion USD.