The Police Investigation Agency of the Ministry of Public Security has just issued an investigation conclusion, recommending prosecution of 86 defendants in a case related to the Group. Van Thinh Phat, SCB Bank and some units. Among the 86 people proposed to be prosecuted are 45 former SCB leaders and officials, 8 people from Van Thinh Phat Group, 12 former State Bank officials, 3 Government Inspectors, and one person from the State Audit. In particular, defendant Truong My Lan, Chairman of Van Thinh Phat Group, was proposed to be prosecuted for three crimes: Bribery, Violating regulations on banking operations and Asset embezzlement.
Defendant Truong My Lan has not yet been prosecuted. Photo: VTP
According to the conclusion, during its operation, Van Thinh Phat Group has built a “Van Thinh Phat ecosystem” with more than 1,000 businesses, divided into 4 main groups with close relationships, including: financial institutions, groups of companies with business activities in Vietnam, groups of “ghost” companies in Vietnam and company networks abroad.
In the group of financial institutions, SCB plays a particularly important role, used by defendant Truong My Lan as a financial tool to finance companies in the ecosystem. All activities of this bank basically serve the activities of the female president of the group.
When in need of money, defendant Lan directed bank leaders to coordinate with key officials at Van Thinh Phat to withdraw money in the form of disbursement for false loan applications. SCB’s money disbursement process, accused Lan, is to withdraw money first and complete the documents later.
According to the investigation conclusion, in order to legally withdraw money, avoid detection by the authorities, and trace the cash flow, Truong My Lan directed the defendants at SCB and Van Thinh Phat to use fake loan plans. currently disburse and transfer money to the accounts of “ghost” individuals and legal entities or let them withdraw cash to “cut off the cash flow”.
When needing to use some cash immediately, defendant Lan instructed SCB leaders to divide it up and find a way to meet it. Cash flow mainly comes from credit loans or bond issuance.
When she had money, Truong My Lan directed Bui Van Dung (private driver) to go to SCB Saigon branch to receive money. At the same time, SCB staff will contact Van Thinh Phat’s people to request legal entities and individuals to receive money, withdraw money… prepare payment slips and procedures to complete the cash withdrawal operation.
When he had money, defendant Truong My Lan instructed Bui Van Dung (accused Lan’s driver) to use a car to take her to the female president’s private home at Sherwood Building No. 127 Pasteur, District 3, Ho Chi Minh City or headquarters. Van Thinh Phat Group is at 193-203 Tran Hung Dao. After that, the money was transferred by Dung or Tran Thi Hoang Uyen (accused Lan’s assistant) to different addresses directed by president Van Thinh Phat.
According to the notebook and testimony of Dung and Uyen, from February 2019 to around September 2022, cash was transported from SCB to Ms. Lan’s private home, Van Thinh Phat Group or delivered to others, estimated at about 108,000 billion VND and 14.7 million USD (about 355 billion VND). The investigation conclusion does not state the final destination of these funds.
In addition to the concluded acts, the Ministry of Public Security has separated the criminal case of Fraudulent appropriation of assets related to bond issuance and Money Laundering for further investigation. Among the 22 people prosecuted for investigation in phase 2, Truong My Lan and Chu Lap Co and 6 other people were accused of Money Laundering. Defendants Bui Van Dung and Tran Thi Hoang Yen were also prosecuted for fraudulent appropriation of property, but the police separated the investigation case at a later stage.