Vietnam Leading Property Developer Van Thinh Phat Group Chairwoman Age 67 Truong My Lan 2nd Trial Starts Including for Money Laundering Charges with $4.5 Billion of Illegal Cross-Border Transfers & Misappropriating $1.2 Billion from 35,824 Investors via Bond Issuances, Sentenced to Death in Vietnam in 2024 April for Corruption & Required to Return $27 Billion
19th September 2024 | Hong Kong
Vietnam leading property developer Van Thinh Phat Group Chairwoman Truong My Lan (Age 67) 2nd trial has started (19/924) including for money laundering charges with $4.5 billion of illegal cross-border transfers and misappropriating $1.2 billion from 35,824 investors via bond issuances. In 2024 June, Truong My Lan (Age 67) is facing new money laundering charges (recommended by Vietnam Ministry of Public Security) for $4.5 billion of illegal cross-border transfers. In 2024 April, Truong My Lan was sentenced to death in Vietnam for corruption & required to return $27 billion, with her Hong Kong real estate husband Eric Chu Nap-Kee sentenced to 9 years jail & niece sentenced to 17 years jail for securing $43 billion of loan & embezzling $12.4 billion from Saigon Commercial Bank (SCB) representing 93% of deposits at the bank. Truong My Lan is the majority shareholder of Saigon Commercial Bank. 83 other individuals were also charged & sentenced, with 4 received jail sentence for life. Truong My Lan was selling comestics (stall) with her mother and started buying land & properties in 1986. In 2011, Truong My Lan coordinated the merger of 3 small banks to form Saigon Commercial Bank. Over the years, Truong My Lan had bribed many officials including $5 million to a chief inspector of Vietnam central bank. Truong My Lan criminal trial had started on 5th March 2024, and husband (Eric Chu Nap-Kee) who works in real estate in Hong Kong was also summoned to court. In October 2023, Vietnam government released a statement on Vietnam leading property developer Van Thinh Phat Group, An Dong Investment & affiliates for cheating $1.2 billion from 42,000 investors in 25 illegal bond fraud. In 2022 October, Van Thinh Phat Group Chairwoman Truong My Lan was arrested by Vietnam police. More info below:
“ Vietnam Leading Property Developer Van Thinh Phat Group Chairwoman Age 67 Truong My Lan 2nd Trial Starts Including for Money Laundering Charges with $4.5 Billion of Illegal Cross-Border Transfers & Misappropriating $1.2 Billion from 35,824 Investors via Bond Issuances, Sentenced to Death in Vietnam in 2024 April for Corruption & Required to Return $27 Billion “
Vietnam Leading Property Developer Van Thinh Phat Group Chairwoman Age 67 Truong My Lan Faces New Money Laundering Charges for $4.5 Billion of Illegal Cross-Border Transfers, Sentenced to Death in Vietnam in 2024 April for Corruption & Required to Return $27 Billion
6th June 2024 – Vietnam leading property developer Van Thinh Phat Group Chairwoman Truong My Lan (Age 67) is facing new money laundering charges (recommended by Vietnam Ministry of Public Security) for $4.5 billion of illegal cross-border transfers. In 2024 April, Truong My Lan was sentenced to death in Vietnam for corruption & required to return $27 billion, with her Hong Kong real estate husband Eric Chu Nap-Kee sentenced to 9 years jail & niece sentenced to 17 years jail for securing $43 billion of loan & embezzling $12.4 billion from Saigon Commercial Bank (SCB) representing 93% of deposits at the bank. Truong My Lan is the majority shareholder of Saigon Commercial Bank. 83 other individuals were also charged & sentenced, with 4 received jail sentence for life. Truong My Lan was selling comestics (stall) with her mother and started buying land & properties in 1986. In 2011, Truong My Lan coordinated the merger of 3 small banks to form Saigon Commercial Bank. Over the years, Truong My Lan had bribed many officials including $5 million to a chief inspector of Vietnam central bank. Truong My Lan criminal trial had started on 5th March 2024, and husband (Eric Chu Nap-Kee) who works in real estate in Hong Kong was also summoned to court. In October 2023, Vietnam government released a statement on Vietnam leading property developer Van Thinh Phat Group, An Dong Investment & affiliates for cheating $1.2 billion from 42,000 investors in 25 illegal bond fraud. In 2022 October, Van Thinh Phat Group Chairwoman Truong My Lan was arrested by Vietnam police. More info below:
Vietnam Central Bank Provided Additional $1.2 Billion for a Total of $24.2 Billion in Special Loans to Rescue Saigon Commercial Bank Since April 2024 with Deposits Decreasing 80% to $6 Billion in 2023 December, Leading Property Developer Van Thinh Phat Group Chairwoman Age 67 Truong My Lan Sentenced to Death in Vietnam for Corruption & Required to Return $27 Billion, Hong Kong Real Estate Husband Eric Chu Nap-Kee Sentenced to 9 Years Jail & Niece Sentenced to 17 Years Jail, Secured $43 Billion of Loan & Embezzled $12.4 Billion from Saigon Commercial Bank Representing 93% of Deposits at the Bank
6th June 2024 – Vietnam central bank had provided additional $1.2 billion for a total of $24.2 billion ($1.2 billion + $23 billion) in special loans to rescue Saigon Commercial Bank since April 2024 with the bank deposits decreasing 80% to $6 billion in 2023 December. In 2024 April, Vietnam leading property developer Van Thinh Phat Group Chairwoman Truong My Lan (Age 67) has filed appeal for her death sentence, after being sentenced to death (April 2024) in Vietnam for corruption & required to return $27 billion, with her Hong Kong real estate husband Eric Chu Nap-Kee sentenced to 9 years jail & niece sentenced to 17 years jail for securing $43 billion of loan & embezzling $12.4 billion from Saigon Commercial Bank (SCB) representing 93% of deposits at the bank. Truong My Lan is the majority shareholder of Saigon Commercial Bank. 83 other individuals were also charged & sentenced, with 4 received jail sentence for life. Truong My Lan was selling comestics (stall) with her mother and started buying land & properties in 1986. In 2011, Truong My Lan coordinated the merger of 3 small banks to form Saigon Commercial Bank. Over the years, Truong My Lan had bribed many officials including $5 million to a chief inspector of Vietnam central bank. Truong My Lan criminal trial had started on 5th March 2024, and husband (Eric Chu Nap-Kee) who works in real estate in Hong Kong was also summoned to court. In October 2023, Vietnam government released a statement on Vietnam leading property developer Van Thinh Phat Group, An Dong Investment & affiliates for cheating $1.2 billion from 42,000 investors in 25 illegal bond fraud. In 2022 October, Van Thinh Phat Group Chairwoman Truong My Lan was arrested by Vietnam police.
Vietnam Leading Property Developer Van Thinh Phat Group Chairwoman Age 67 Truong My Lan Files Appeal for Death Sentence in Vietnam for Corruption & Required to Return $27 Billion, Hong Kong Real Estate Husband Eric Chu Nap-Kee Sentenced to 9 Years Jail & Niece Sentenced to 17 Years Jail, Secured $43 Billion of Loan & Embezzled $12.4 Billion from Saigon Commercial Bank Representing 93% of Deposits at the Bank, Truong My Lan is Majority Shareholder of Saigon Commercial Bank
27th April 2024 – Vietnam leading property developer Van Thinh Phat Group Chairwoman Truong My Lan (Age 67) has filed appeal for her death sentence, after being sentenced to death (April 2024) in Vietnam for corruption & required to return $27 billion, with her Hong Kong real estate husband Eric Chu Nap-Kee sentenced to 9 years jail & niece sentenced to 17 years jail for securing $43 billion of loan & embezzling $12.4 billion from Saigon Commercial Bank (SCB) representing 93% of deposits at the bank. Truong My Lan is the majority shareholder of Saigon Commercial Bank. 83 other individuals were also charged & sentenced, with 4 received jail sentence for life. Truong My Lan was selling comestics (stall) with her mother and started buying land & properties in 1986. In 2011, Truong My Lan coordinated the merger of 3 small banks to form Saigon Commercial Bank. Over the years, Truong My Lan had bribed many officials including $5 million to a chief inspector of Vietnam central bank. Truong My Lan criminal trial had started on 5th March 2024, and husband (Eric Chu Nap-Kee) who works in real estate in Hong Kong was also summoned to court. In October 2023, Vietnam government released a statement on Vietnam leading property developer Van Thinh Phat Group, An Dong Investment & affiliates for cheating $1.2 billion from 42,000 investors in 25 illegal bond fraud. In 2022 October, Van Thinh Phat Group Chairwoman Truong My Lan was arrested by Vietnam police.
Vietnam Central Bank Provided $23 Billion in Special Loans to Rescue Saigon Commercial Bank in April 2024 with Deposits Decreasing 80% to $6 Billion in 2023 December, Leading Property Developer Van Thinh Phat Group Chairwoman Age 67 Truong My Lan Sentenced to Death in Vietnam for Corruption & Required to Return $27 Billion, Hong Kong Real Estate Husband Eric Chu Nap-Kee Sentenced to 9 Years Jail & Niece Sentenced to 17 Years Jail, Secured $43 Billion of Loan & Embezzled $12.4 Billion from Saigon Commercial Bank Representing 93% of Deposits at the Bank
20th April 2024 – Vietnam central bank had provided $23 billion in special loans to rescue Saigon Commercial Bank in April 2024 with the bank deposits decreasing 80% to $6 billion in 2023 December. In April 2024, Vietnam leading property developer Van Thinh Phat Group Chairwoman Truong My Lan (Age 67) has been sentenced to death in Vietnam for corruption & required to return $27 billion, with her Hong Kong real estate husband Eric Chu Nap-Kee sentenced to 9 years jail & niece sentenced to 17 years jail for securing $43 billion of loan & embezzling $12.4 billion from Saigon Commercial Bank (SCB) representing 93% of deposits at the bank. Truong My Lan is the majority shareholder of Saigon Commercial Bank. 83 other individuals were also charged & sentenced, with 4 received jail sentence for life. Truong My Lan was selling comestics (stall) with her mother and started buying land & properties in 1986. In 2011, Truong My Lan coordinated the merger of 3 small banks to form Saigon Commercial Bank. Over the years, Truong My Lan had bribed many officials including $5 million to a chief inspector of Vietnam central bank. Truong My Lan criminal trial had started on 5th March 2024, and husband (Eric Chu Nap-Kee) who works in real estate in Hong Kong was also summoned to court. In October 2023, Vietnam government released a statement on Vietnam leading property developer Van Thinh Phat Group, An Dong Investment & affiliates for cheating $1.2 billion from 42,000 investors in 25 illegal bond fraud. In 2022 October, Van Thinh Phat Group Chairwoman Truong My Lan was arrested by Vietnam police.
Vietnam Leading Property Developer Van Thinh Phat Group Chairwoman Age 67 Truong My Lan Sentenced to Death in Vietnam for Corruption & Required to Return $27 Billion, Hong Kong Real Estate Husband Eric Chu Nap-Kee Sentenced to 9 Years Jail & Niece Sentenced to 17 Years Jail, Secured $43 Billion of Loan & Embezzled $12.4 Billion from Saigon Commercial Bank Representing 93% of Deposits at the Bank, Truong My Lan is Majority Shareholder of Saigon Commercial Bank
11th April 2024 – Vietnam leading property developer Van Thinh Phat Group Chairwoman Truong My Lan (Age 67) has been sentenced to death in Vietnam for corruption & required to return $27 billion, with her Hong Kong real estate husband Eric Chu Nap-Kee sentenced to 9 years jail & niece sentenced to 17 years jail for securing $43 billion of loan & embezzling $12.4 billion from Saigon Commercial Bank (SCB) representing 93% of deposits at the bank. Truong My Lan is the majority shareholder of Saigon Commercial Bank. 83 other individuals were also charged & sentenced, with 4 received jail sentence for life. Truong My Lan was selling comestics (stall) with her mother and started buying land & properties in 1986. In 2011, Truong My Lan coordinated the merger of 3 small banks to form Saigon Commercial Bank. Over the years, Truong My Lan had bribed many officials including $5 million to a chief inspector of Vietnam central bank. Truong My Lan criminal trial had started on 5th March 2024, and husband (Eric Chu Nap-Kee) who works in real estate in Hong Kong was also summoned to court. In October 2023, Vietnam government released a statement on Vietnam leading property developer Van Thinh Phat Group, An Dong Investment & affiliates for cheating $1.2 billion from 42,000 investors in 25 illegal bond fraud. In 2022 October, Van Thinh Phat Group Chairwoman Truong My Lan was arrested by Vietnam police.
Vietnam Leading Property Developer Van Thinh Phat Group Chairwoman Truong My Lan Criminal Trial Starts on 5th March 2024, Husband Who Works in Real Estate in Hong Kong Eric Chu Nap-Kee Also Summoned to Court, Allegedly Secured $43 Billion of Loan & Embezzled $12.4 Billion from Saigon Commercial Bank Representing 93% of Deposits at the Bank, Truong My Lan is Majority Shareholder of Saigon Commercial Bank
9th March 2024 – Vietnam leading property developer Van Thinh Phat Group Chairwoman Truong My Lan criminal trial has started on 5th March 2024, and husband (Eric Chu Nap-Kee) who works in real estate in Hong Kong was also summoned to court. Truong My Lan is on trial for allegedly secured $43 billion of loan & embezzled $12.4 billion from Saigon Commercial Bank (SCB) representing 93% of deposits at the bank. Truong My Lan is the majority shareholder of Saigon Commercial Bank. In October 2023, Vietnam government released a statement on Vietnam leading property developer Van Thinh Phat Group, An Dong Investment & affiliates for cheating $1.2 billion from 42,000 investors in 25 illegal bond fraud. In 2022 October, Van Thinh Phat Group Chairwoman Truong My Lan was arrested by Vietnam police.
Vietnam Leading Property Developer Van Thinh Phat Group Chairwoman Truong My Lan to Face Criminal Trial for Allegedly Secured $43 Billion of Loan & Embezzled $12.4 Billion from Saigon Commercial Bank Representing 93% of Deposits at the Bank, Truong My Lan is Majority Shareholder of Saigon Commercial Bank
2nd February 2024 – Vietnam leading property developer Van Thinh Phat Group Chairwoman Truong My Lan is facing criminal trial for allegedly secured $43 billion of loan & embezzled $12.4 billion from Saigon Commercial Bank (SCB) representing 93% of deposits at the bank. Truong My Lan is the majority shareholder of Saigon Commercial Bank. In October 2023, Vietnam government released a statement on Vietnam leading property developer Van Thinh Phat Group, An Dong Investment & affiliates for cheating $1.2 billion from 42,000 investors in 25 illegal bond fraud. In 2022 October, Van Thinh Phat Group Chairwoman Truong My Lan was arrested by Vietnam police.
Vietnam Leading Property Developer Van Thinh Phat Group Chairwoman Truong My Lan Alleged to Have Secured $43 Billion of Loan & Embezzled $12.4 Billion from Saigon Commercial Bank Representing 93% of Deposits at the Bank, Truong My Lan is Majority Shareholder of Saigon Commercial Bank
8th December 2023 – Vietnam leading property developer Van Thinh Phat Group Chairwoman Truong My Lan is alleged to have secured $43 billion of loan from Saigon Commercial Bank (SCB) representing 93% of deposits at the bank, and embezzling $12.4 billion from the bank. Truong My Lan is the majority shareholder of Saigon Commercial Bank. In October 2023, Vietnam government released a statement on Vietnam leading property developer Van Thinh Phat Group, An Dong Investment & affiliates for cheating $1.2 billion from 42,000 investors in 25 illegal bond fraud. In 2022 October, Van Thinh Phat Group Chairwoman Truong My Lan was arrested by Vietnam police.
Vietnam Leading Property Developer Van Thinh Phat Group, An Dong Investment & Affiliates for Cheating $1.2 Billion from 42,000 Investors in 25 Illegal Bond Fraud, Van Thinh Phat Group Chairwoman Truong My Lan Arrested in 2022 October
7th October 2023 – Vietnam government has released a statement on Vietnam leading property developer Van Thinh Phat Group, An Dong Investment & affiliates for cheating $1.2 billion from 42,000 investors in 25 illegal bond fraud. In 2022 October, Van Thinh Phat Group Chairwoman Truong My Lan was arrested by Vietnam police. Vietnam Government Statement: “The Ministry of Public Security is looking for the victim in the case that happened at Van Thinh Phat Group … … The Police Investigation Agency of the Ministry of Public Security is investigating the case of “Fraudulent appropriation of property” that occurred at Van Thinh Phat Group Joint Stock Company, An Dong Investment Group Joint Stock Company and other organizations and units. Relevant according to the Decision to prosecute criminal cases No. 50/QD-CSKT-P10 dated October 07, 10. Investigation results determined: From 2018 to 2020, related subjects at Van Thinh Phat Group Joint Stock Company, An Dong Investment Group Joint Stock Company, Quang Thuan Investment Joint Stock Company, Company City Commercial Services CP. Ho Chi Minh City, Sunny World Investment and Development Joint Stock Company and other organizations have committed fraudulent acts, violating the law, creating 25 bond packages with code: ADC-2018.09, ADC-2018.09.1 , ADC-2019.01, QT-2018.12.1, SNWCH1823001 and 20 codes from SET.H2025.01 to SET.H2025.20 with a total value of 30.081 billion VND to sell to buyers (bondholders), raising money and appropriation. The Police Investigation Agency of the Ministry of Public Security identified the bondholders who own 25 bond codes issued by the 4 companies mentioned above as victims in the case and has entrusted the investigation to the Police Investigation Agency of the Public Security. Provinces/cities according to the bondholder’s address on the bond purchase/transfer contract receive information and take statements from victims to consider and resolve according to the provisions of law.” More info below:
Vietnam Leading Property Developer Van Thinh Phat Group, An Dong Investment & Affiliates for Cheating $1.2 Billion from 42,000 Investors in 25 Illegal Bond Fraud
3rd October 2023 – The Ministry of Public Security is looking for the victim in the case that happened at Van Thinh Phat Group.
The Police Investigation Agency of the Ministry of Public Security is investigating the case of “Fraudulent appropriation of property” that occurred at Van Thinh Phat Group Joint Stock Company, An Dong Investment Group Joint Stock Company and other organizations and units. Relevant according to the Decision to prosecute criminal cases No. 50/QD-CSKT-P10 dated October 07, 10. Investigation results determined: From 2018 to 2020, related subjects at Van Thinh Phat Group Joint Stock Company, An Dong Investment Group Joint Stock Company, Quang Thuan Investment Joint Stock Company, Company City Commercial Services CP. Ho Chi Minh City, Sunny World Investment and Development Joint Stock Company and other organizations have committed fraudulent acts, violating the law, creating 25 bond packages with code: ADC-2018.09, ADC-2018.09.1 , ADC-2019.01, QT-2018.12.1, SNWCH1823001 and 20 codes from SET.H2025.01 to SET.H2025.20 with a total value of 30.081 billion VND to sell to buyers (bondholders), raising money and appropriation.
The Police Investigation Agency of the Ministry of Public Security identified the bondholders who own 25 bond codes issued by the 4 companies mentioned above as victims in the case and has entrusted the investigation to the Police Investigation Agency of the Public Security. Provinces/cities according to the bondholder’s address on the bond purchase/transfer contract receive information and take statements from victims to consider and resolve according to the provisions of law.
To serve the case investigation requirements and ensure the rights of the victim according to the provisions of law, the Police Investigation Agency of the Ministry of Public Security recommends: The victim still has outstanding bond debt of 25 bond packages with codes: ADC 2018.09, ADC-2018.09.1, ADC-2019.01, QT-2018.12.1, SNWCH1823001 and 20 codes from SET.H2025.01 to SET.H2025.20 .04 issued by the 03 companies mentioned above, urgently go to the Police Investigation Agency (PCXNUMX) of the Police of the provinces/cities (where the victim resides or where the bond purchase contract arose) for coordination. work, provide information, documents, contracts related to bond trading or submit applications for consideration and settlement, ensuring legal rights and interests. If the victim does not come to work and cooperate in providing information and documents before the end of the investigation of the case, the Police Investigation Agency of the Ministry of Public Security will not consider and resolve the legal rights and interests in the case. case. The Ministry of Public Security also advises victims to be wary of those who show signs of taking advantage, giving false information, fraudulently appropriating property, inciting protests, and gathering in large numbers at agencies and organizations. related officials, causing social disorder.
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