The Supreme People’s Procuracy has completed the indictment against Truong My Lan, Chairwoman of the Board of Directors of Van Thinh Phat Group, and 33 other defendants in the second phase of the Van Thinh Phat case.

On September 12, 2023, the Ministry of Public Security's Investigative Police Agency issued a request for mutual legal assistance in criminal matters to the Attorney General of the British Virgin Islands, the Attorney General of the Cayman Islands (both part of the United Kingdom), and the Department of Justice of Hong Kong (China). The request aimed to verify the legal status of 11 foreign organizations and their legal representatives involved in the case.

The request specifically sought to verify the relationships between these 11 organizations and Truong My Lan and her husband, as well as their connections with various companies and individuals in Vietnam.

On May 14, 2024, the Investigative Police Agency issued another request for mutual legal assistance in criminal matters to verify the involvement of Chiu Bing Keung Kenneth and Chen Yi Chung in the case. However, these requests have yet to yield results.

According to the indictment, between 2012 and 2022, Truong My Lan directed Trinh Quang Cong, Nguyen Phuong Anh, and Chiu Bing Keung Kenneth to create false contracts for the sale of shares, capital contributions, and consulting services between companies in Vietnam and foreign shell companies controlled by individuals within Van Thinh Phat Group.

Through these fictitious contracts, loan money was transferred from abroad to Vietnam, and repayment funds were transferred from Vietnam abroad via the SCB system. The total amount of money illegally transferred across borders by Truong My Lan and her accomplices is over $4.5 billion.

In August 2020, To Thi Anh Dao, Deputy General Director of Van Thinh Phat Group, learned of Truong My Lan’s plan to use shell companies for financial maneuvering, transferring money with foreign partners through fake contracts.

In 2022, Dao was entrusted by Lan to manage Helios Company to receive money from abroad and transfer money from Vietnam abroad through fake loan agreements between Saigon Helios Joint Stock Company (Helios Company) and a foreign company.

Following Lan’s instructions, Dao handed over Helios Company’s documents to Chiu Bing Keung Kenneth to draft a loan contract. Upon receiving the loan contract, Dao prepared the documents to withdraw $40,000 from SCB for Helios Company, which was then transferred to Lan’s secretary, Tran Thi Hoang Uyen, for Lan’s personal use.

The investigation revealed that for money transfers abroad, Dao was directed by Lan to contact Chiu Bing Keung Kenneth for contract settlement documents. The contract stipulated that Helios Company had to repay $40,000 to a foreign company. Lan directed Dao to coordinate with Trinh Cong Quang to secure the funds for the transfer.

The investigation determined that Dao and her accomplices illegally transferred over $99 million across borders.

T. Nhung