Trương Mỹ Lan Embezzles 677.286 Trillion Vietnamese Dong
The trial of Trương Mỹ Lan, former Chairman of Vạn Thịnh Phát Corporation and the Saigon Commercial Bank (SCB), continued on March 19th at the Ho Chi Minh City People’s Court. The People’s Procuracy, which had the right to prosecute, charged 86 defendants.
No Remorse, Continuing to Blame Others
In the indictment against Trương Mỹ Lan, the former Chairman of Vạn Thịnh Phát Corporation, the prosecuting agency reevaluated the amount of money she embezzled from SCB.
According to the indictment, Trương Mỹ Lan, with the intention of misappropriating assets, intervened, controlled, and directed a series of SCB executives, key leaders in companies within the Vạn Thịnh Phát ecosystem, and “shell” companies. From January 1, 2012, to October 17, 2022, Lan embezzled 677.286 trillion Vietnamese Dong from SCB (the previous indictment specified over 304 trillion Dong). This is an exceptionally large amount of money, causing particularly severe consequences.
During the investigation and at the trial, Trương Mỹ Lan refused to cooperate, did not admit to the crime, and did not express any remorse. Instead, she shifted blame to her subordinates and various other SCB employees.
The People’s Procuracy also determined that the defendant’s criminal behavior had a negative impact on both domestic and international public opinion regarding Vietnam’s economic control, monetary policy, and economic management. Therefore, it is necessary to remove her from society as a deterrent and to prevent similar criminal behavior.
Acknowledging Sincere Cooperation
According to the People’s Procuracy, besides Trương Mỹ Lan, the other 80 defendants admitted to their crimes and expressed remorse. Many defendants actively cooperated with authorities in clarifying the nature of the case. Therefore, the People’s Procuracy requested a reduction in their sentences to acknowledge their positive cooperation.
Some defendants, who were employees of SCB and Vạn Thịnh Phát Corporation, committed crimes by assisting without benefiting from the embezzled funds. Hence, the People’s Procuracy suggested that the Court consider reducing their sentences.
Regarding those who once worked in state management agencies, when they discovered wrongdoing at SCB, they made recommendations to transfer the case to the investigative agency for handling. However, they did not have the authority to decide and were unable to preserve their decisions. The People’s Procuracy also proposed considering leniency in their sentences.
As for Đỗ Thị Nhàn, the Director of the Inspectorate and Supervision Department II of the State Bank of Vietnam, the People’s Procuracy acknowledged that she directly instructed subordinates to advise on and construct dishonest reports on SCB’s dire financial situation.
For personal gain, Nhàn received a total of 5.2 million USD on four occasions from Trương Mỹ Lan through Võ Tấn Hoàng Văn, the CEO of SCB, in order to hide and cover up malfeasance at SCB. Thanks to this, Trương Mỹ Lan and her accomplices committed crimes for a long time and embezzled a large sum of money.
The People’s Procuracy recommended that the Court impose a severe punishment and isolate Nhàn from society to serve as a deterrent and to raise awareness among officials and civil servants holding positions in social organizations.
Requesting 1 Death Sentence and 4 Life Sentences
The Ho Chi Minh City People’s Procuracy requested that Trương Mỹ Lan be sentenced to 19-20 years in prison for the charge of “Violating regulations on lending in the activities of credit institutions,” 20 years for the charge of “Bribery,” and the death penalty for the charge of “Embezzlement.” The total requested sentence is the death penalty.
Four defendants, namely Đỗ Thị Nhàn (Director of the Inspectorate and Supervision Department II), Đinh Văn Thành and Bùi Anh Dũng (both former Chairmen of SCB’s Board of Directors), and Võ Tấn Hoàng Văn, were all recommended to receive life sentences. Among them, Thành is currently a fugitive.
The remaining defendants were recommended to receive sentences ranging from 3 years in prison, with the possibility of suspension, to 24 years in prison for various offenses.
When hearing the requested sentences, Trương Mỹ Lan showed no change in expression, while Đỗ Thị Nhàn and many other defendants bowed their heads.
This article is adapted from the original source content on Business Today.