During the second phase of the Van Thinh Phat and Saigon Commercial Joint Stock Bank (SCB) cases, the Investigation Police Agency elucidated the illicit cross-border money transportation by Truong My Lan, former Chairwoman of the Board of Directors of Van Thinh Phat Group, and proposed the prosecution of 34 defendants in this matter.
On June 6, the Investigation Police Agency of the Ministry of Public Security (C03) announced the conclusion of the investigation into the fraud and money laundering case at SCB and Van Thinh Phat Group. Consequently, this case was separated during the investigation process of the embezzlement case, which resulted in Truong My Lan being recently sentenced to death by the People's Court of Ho Chi Minh City.
The investigation findings and gathered evidence have established that between October 27, 2012, and October 7, 2022, 21 companies affiliated with the Van Thinh Phat Group conducted 78 unauthorized fund transfers abroad, totaling over US$1.5 billion sourced from embezzled assets. These actions have led to charges of money laundering. Furthermore, this sum does not originate from over VND30 trillion in bond issuances and has also resulted in money laundering charges.
The investigative agency also clarified that 21 companies illegally received funds from abroad, involving 152 transactions totaling more than $3 billion.
According to the investigation, the transfer of funds from Vietnam to abroad and vice versa was facilitated through "fictitious" contracts, such as contracts for buying and selling shares, capital contributions, consulting agreements, and loan contracts between Vietnamese companies and foreign entities.
The companies involved in the aforementioned fund transfers are:
Twelve companies established and registered for business in Vietnam, including Golden Hill Company, Blue Pearl Company, VinaLand Vietnam Company, Eastern View Company, Capital Tower Company, Trade Wind Company, Eland Company, Thanh Hieu Company, Dong Sai Gon Company, Sai Gon Helios Company, An Dong Company, and SPG Company.
Eleven foreign companies and organizations operating in Vietnam, including Noble Capital Group Limited, Glory Capital Investment Limited, Galaxy Investment Capital Limited, Day Glory Development Limited, Dragon Fund Investment Limited, Vinaland Investments Limited, Leader Vision Capital Investment Limited, Golden Hill Investment Company Limited, City Charm Investment Company Limited, Prominent Group Limited, and Starlight Development Limited.
According to the investigative agency, the total amount of illicitly transported currency across borders by Truong My Lan and her accomplices exceeds $4.5 billion.
