Times Truong My Lan spent huge amounts of money on her subordinates

After a week of the first instance trial of defendant Truong My Lan (68 years old, Chairwoman of the Board of Directors of Van Thinh Phat Group), the trial's developments were quite surprising with the detail that this defendant was very "generous" in spending huge amounts of money on subordinates as well as partners, from tens of billions of VND to thousands of billions of VND.

Những lần Trương Mỹ Lan chi tiền 'khủng' cho thuộc cấp- Ảnh 1. — Defendant Truong My Lan

Specifically, defendant Truong Khanh Hoang (former acting General Director of Saigon Commercial Joint Stock Bank - SCB) helped Truong My Lan embezzle more than 183,000 billion VND from SCB, claiming that Truong My Lan paid him a salary of 130 - 500 million VND/month). On holidays and Tet, Hoang also received many bonuses, totaling about 5 billion VND.

In July 2022, Hoang was also given 10 million SCB shares by Truong My Lan, equivalent to 100 billion VND at par value. Hoang gave the bonus shares to his wife and parents-in-law and asked to return all of these shares to remedy the consequences.

For example, former Chairman of the Board of Directors of SCB Bui Anh Dung, when working with defendant Truong My Lan, received a salary of 500 million VND/month. In addition to the salary, defendant Dung was also given 500,000 shares by Truong My Lan, and at the end of 2020 - 2021, he received a Tet bonus of 40 billion VND from Truong My Lan.

In addition to defendant Bui Anh Dung, the defendants who are close associates and hold key positions at SCB, helping defendant Truong My Lan withdraw money from SCB, are all paid salaries from 200 - 500 million VND/month.

Or, defendant Pham Thu Phong (former Head of SCB's Supervisory Board) after 11 years of working, at the end of 2018, she felt "unwell" and her health was no longer suitable so she asked to resign. After asking to resign, Truong My Lan called to discuss and then gave her 20 billion VND.

Defendant Duong Tan Truoc (former General Director of Tuong Viet Company), one of Truong My Lan's accomplices, helped defendant Lan cause damage to SCB of more than 4,700 billion VND, also stated that defendant Truong My Lan rewarded him 1,500 billion VND for providing legal support and licensing for defendant Truong My Lan in the two projects Mui Den Do and Sai Gon Binh An.

In addition, to cover up SCB's violations, Truong My Lan boldly directed former SCB leaders to pay a bribe of 5.2 million USD to defendant Do Thi Nhan (former Director of the Department of Banking Inspection and Supervision II, State Bank). In addition, defendant Lan also directed her subordinates to pay most members of the State Bank's inspection and supervision team, with amounts ranging from 20 million VND to nearly 10 billion VND.

According to the trial, during the 1-week trial, the People's Court of Ho Chi Minh City questioned 84/86 defendants. Tomorrow (March 11), the People's Court will question the remaining 2 defendants, Truong My Lan and Nguyen Cao Tri.

According to the indictment of the Supreme People's Procuracy, Truong My Lan used many tricks to embezzle more than VND 304,000 billion in principal and more than VND 129,000 billion in interest from SCB; violated lending regulations, causing losses to SCB of more than VND 64,000 billion; and at the same time gave a bribe of 5.2 million USD to defendant Do Thi Nhan.

In the case, only defendant Nguyen Cao Tri (54 years old, Chairman of the Board of Directors of Van Lang Education Investment and Management Joint Stock Company, Chairman of the Board of Directors and General Director of Capella Company) was not an accomplice of Truong My Lan in causing damage to SCB. Defendant Tri was tried for attempting to appropriate 1,000 billion VND from defendant Lan after this defendant was arrested.

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