The Supreme People's Procuracy recently completed the indictment of Truong My Lan, Chairwoman of the Van Thinh Phat Group, and 33 other defendants. Lan faces charges of "Fraudulent appropriation of property," "Money laundering," and "Illegal cross-border currency transfer."

The indictment outlines that from January 1, 2018, to October 7, 2022, Lan and her accomplices embezzled over 445 trillion VND (around $19.3 billion) through fraudulent activities, including 415 trillion VND from embezzlement and over 30 trillion VND from fraudulent appropriation. Lan orchestrated the withdrawal and transfer of funds from the SCB system to conceal the illicit origins of the money, subsequently laundering it for various uses.

The process of cash withdrawal primarily took place at the SCB Saigon Branch. Lan directed her associates, including Nguyen Phuong Hong, Tran Thi My Dung, Nguyen Phuong Anh, and Thai Thi Thanh Thao, to compile lists of legal entities and individuals for money withdrawal and transfer. Phuong Anh coordinated with Thanh Thao, who prepared the necessary documents for cash withdrawal, which were then processed by Thao.

After completing the paperwork, Thao notified Tran Thi Thuy Ai, the branch's treasury inspector, to release the cash to Bui Van Dung, Lan's driver, who would then transport the money to the Sherwood building at 127 Pasteur, District 3, Ho Chi Minh City. There, Tran Thi Hoang Uyen, Lan's secretary, would distribute the funds as directed by Lan.

If cash use was not required immediately, Lan instructed her team to use accounts at SCB to temporarily hold the funds. These accounts were used to transfer money between various accounts to disguise its origin before finally directing it to designated accounts for personal use.

The 35,824 investors identified as victims held bonds from An Dong, Quang Thuan, Sunny World, and Setra as of October 7, 2022, when the criminal case was initiated. The investigative agencies have since collected statements from 35,315 of these victims to clarify their claims.

T. Nhung