Truong My Lan under investigation for money laundering

December 28, 2023

HCMC – The Ministry of Public Security is currently investigating whether Truong My Lan, chairwoman of Van Thinh Phat Holdings Group Corporation, was involved in money laundering and embezzlement at Saigon Commercial Bank (SCB). In the second phase, the investigation is centering on allegations of Truong My Lan’s involvement in embezzlement and money laundering. In the first case involving Van Thinh Phat and SCB, the investigative police at the Ministry of Public Security proposed charging Lan with bribery, violation of banking regulations, and embezzlement. She is accused of using SCB to raise capital for Van Thinh Phat, which has over 1,000 subsidiary companies. Police calculations suggest that Lan misappropriated a substantial VND304,096 billion from SCB, leading to accumulated interest exceeding VND129,372 billion.

The source of this news is from The Saigon Times