Close-up of the project that Ms. Truong My Lan wants to sell for about 20,000 billion VND

Cận cảnh dự án bà Trương Mỹ Lan muốn bán rẻ khoảng 20.000 tỷ đồng - 1

During the second trial of Truong My Lan and her accomplices, the defendant declared her intention to sell some real estate assets to remedy the consequences, including the 6A project in Binh Chanh district, Ho Chi Minh City.

Cận cảnh dự án bà Trương Mỹ Lan muốn bán rẻ khoảng 20.000 tỷ đồng - 2

Ms. Lan assessed that the project has a prime location and has been compensated for more than 20 years. The project is located near Trung Son Residential Area, Him Lam Residential Area, on Nguyen Van Linh Street (District 7), near universities, hospitals and major commercial centers of Binh Chanh District.

Cận cảnh dự án bà Trương Mỹ Lan muốn bán rẻ khoảng 20.000 tỷ đồng - 3

According to Ms. Lan, many investors paid 30,000-50,000 billion VND for this project. Now, she decided to sell it cheaply for 10,000-20,000 billion VND to have money to fix the consequences because in recent years, bond buyers have suffered a lot.

Cận cảnh dự án bà Trương Mỹ Lan muốn bán rẻ khoảng 20.000 tỷ đồng - 4

According to Dan Tri reporter on October 9, project 6A is mostly vacant land, with many ponds and overgrown trees.

Cận cảnh dự án bà Trương Mỹ Lan muốn bán rẻ khoảng 20.000 tỷ đồng - 5

The land is also fenced with large corrugated iron sheets, creating a trail to go deeper inside.

Cận cảnh dự án bà Trương Mỹ Lan muốn bán rẻ khoảng 20.000 tỷ đồng - 6

The project still has people living in makeshift houses, located among trees and ponds. When asked, some people said they are just staying temporarily, and will leave when they are evicted.

Cận cảnh dự án bà Trương Mỹ Lan muốn bán rẻ khoảng 20.000 tỷ đồng - 7

According to Ms. Lan, Project 6A was one of the five assets used to secure the restructuring of SCB in the years after the merger. The defendant stated that she later used other sources of money to pay off the debt to SCB.

Cận cảnh dự án bà Trương Mỹ Lan muốn bán rẻ khoảng 20.000 tỷ đồng - 8

However, instead of returning the red book of project 6A to Van Thinh Phat Group, SCB still "kept it for her". Ms. Lan requested SCB to return this project along with 65 other assets that SCB is holding, not to use them to secure other debt obligations.

Cận cảnh dự án bà Trương Mỹ Lan muốn bán rẻ khoảng 20.000 tỷ đồng - 9

A "mysterious" friend of Ms. Lan once offered to pay a certain amount of money on her behalf on the condition that this person would manage the above project.

Cận cảnh dự án bà Trương Mỹ Lan muốn bán rẻ khoảng 20.000 tỷ đồng - 10

As for the purchase, sale or transfer of the above project, it will be up to Ms. Lan and you to discuss and negotiate with each other later.

Cận cảnh dự án bà Trương Mỹ Lan muốn bán rẻ khoảng 20.000 tỷ đồng - 11

Ms. Lan said she wanted to recover all the damages of the case, as long as that person had real money and wanted to do a real project, she didn't care about the value. Therefore, the "mysterious" friend just considered the market price, if it was okay, they would negotiate later.

Cận cảnh dự án bà Trương Mỹ Lan muốn bán rẻ khoảng 20.000 tỷ đồng - 12

The lawyer defending Ms. Truong My Lan also said that the 6A project is currently valued at 16,540 billion VND by Hoang Quan Company. Ms. Lan agrees with this valuation.