Ms. Truong My Lan presented a plan to overcome 930,000 billion VND

From prison, convict Truong My Lan (69 years old, former Chairwoman of the Board of Directors of Van Thinh Phat) sent a petition to the leaders of the Party, the State, and the Central Inter-sectoral Steering Committee on organizing the execution of the judgment and recovering the assets that were appropriated and lost in the case of her and her accomplices.

Accordingly, the owner of Van Thinh Phat expressed her desire to come up with the best solution to overcome the consequences of the case, and restructure Saigon Commercial Joint Stock Bank (SCB).

Ms. Truong My Lan in court (Photo: Nam Anh).

In the petition, Ms. Truong My Lan said that she called on domestic and foreign partners to mobilize financial resources to participate in handling assets, using the collected money to remedy the consequences of the case.

The petition shows that Ms. Truong My Lan proposed a roadmap to implement the remedial plan for phases 1 and 2 within 12 years, including restructuring SCB, linked to handling the assets of the case.

This plan has also been submitted by Van Thinh Phat Group to the leaders of the Party, State, and Governor of the State Bank of Vietnam .

In the first phase, Van Thinh Phat and the group of investors have available capital of 2 billion USD, equivalent to more than 50,000 billion VND, which will be disbursed as soon as permission is granted to implement the plan to stabilize SCB's operations, ensure liquidity of deposits, pay overdue debts, supplement working capital and estimate costs to complete a number of large, feasible projects.

Phase 2 will take place within 5 years from the date of implementation of the plan. Investors will use money, assets from partners and investment funds with an amount of about 8 billion USD, equivalent to more than 200,000 billion VND to develop projects with completed legal procedures, as a lever to generate revenue.

Phase 3 takes place from the 6th to the 12th year, investors will use additional loans from domestic and international credit institutions to invest in large projects to generate revenue of about 580,000 billion VND. Typical projects include Mui Den Do project, Ba Son project, 87 Cong Quynh project, Nguyen Hue - Amigo Quadrilateral project...

The assets being mortgaged at SCB are small real estate projects or shares and stocks that have not been valued and are among the 440 assets that have been seized and frozen worth about 100,000 billion VND.

Ms. Truong My Lan hopes that the Party and State leaders and competent authorities will pay attention, create favorable conditions and accept the recommendations as well as the plan to overcome the consequences of the case, along with handling assets and restructuring SCB, to best overcome the consequences of the case; at the same time, Ms. Lan hopes to soon enjoy the leniency policy of the law.

In the second phase of the major case that occurred at Van Thinh Phat, the first instance verdict determined that Ms. Truong My Lan and her accomplices committed the crimes of: Fraudulent appropriation of assets (VND 30,081 billion of 35,824 bondholders) through the issuance of fake bonds; Money laundering (VND 445,747 billion) and Illegally transporting currency across the border (USD 4.5 billion, equivalent to VND 106,730 billion).

For the above actions, Ms. Lan was sentenced to 30 years in prison by the High People's Court in Ho Chi Minh City. However, in the first phase of the case, Ms. Truong My Lan was sentenced to death for embezzlement. Combining the combined punishment of the two phases, this woman must serve the death sentence.

In civil matters, in both stages, Ms. Lan must compensate more than 30,000 billion VND to bondholders, more than 677,000 billion VND to SCB...

It is expected that before July 15, the Ho Chi Minh City Civil Judgment Enforcement Department will pay the first installment of about VND 8,700 billion to bondholders.

Dantri.com.vn

Source: https://dantri.com.vn/phap-luat/ba-truong-my-lan-trinh-phuong-an-khac-phuc-930000-ty-dong-20250621103048032.htm