In a notice on 27/7, the Ho Chi Minh City civil judgment enforcement agency announced it needs to sign a service contract to auction assets related to Truong My Lan, Chairwoman of Van Thinh Phat Group. This move is part of the ongoing efforts to enforce judgments against her assets.

The jewelry set includes three main pieces. The first is a necklace adorned with 16 diamonds, valued at a starting price of approximately 8,9 billion VND. This necklace features a main diamond measuring 12,67 mm, complemented by secondary diamonds ranging from 3,5 to 7 mm. The second asset consists of two diamond earrings, measuring 10,58 mm and 10,7 mm, valued at nearly 9,5 billion VND. Finally, a 14,1 mm diamond ring is priced at over 6,6 billion VND. The value of these jewelry items was appraised by a company based in Ho Chi Minh City.

These three items are among many assets belonging to Truong My Lan that have been seized for judgment enforcement. During her trial in late 9/2024, she requested the return of a diamond jewelry set, weighing over 20 carats, which she was wearing when arrested, along with other items such as two albino crocodile Hermes bags. According to her, the value of these items was minimal compared to her frozen assets, and she wished for them to be returned as keepsakes for her children and grandchildren.

In May, the two Hermes bags mentioned by Lan were successfully auctioned during their initial offering. One of the bags fetched 11,6 billion VND – seven times its starting price. Other assets linked to Ms. Lan, including yachts, ships, and real estate, are also in the process of being offered for sale.

Beyond these specific items, Saigon Commercial Bank (SCB) is working to recover debts by liquidating mortgaged assets. The bank is currently seeking an appraisal organization for 1,120 collateral assets securing 1,243 loans associated with Truong My Lan before proceeding with public auctions. This appraisal step is crucial for determining the initial asking price of these assets.

Thien Ngan