This marks the fifth payment installment for individuals covered by the appellate judgment of phase two in the case involving Truong My Lan, Chairwoman of Van Thinh Phat, and her accomplices. Starting with this installment, the judgment enforcement agency will begin collecting fees as stipulated by regulations.

To date, the Ho Chi Minh City Civil Judgment Enforcement Department (THADS TP HCM) has disbursed over 9,084 billion dong to Van Thinh Phat bondholders.

According to the judgment enforcement decision, Lan is obligated to compensate over 30,000 billion dong to more than 43,000 bondholders, including victims and those with related rights and obligations.

Previously, THADS TP HCM made four payment installments to over 42,450 bondholders. More than 650 bondholders have not yet provided their account information for payment, and their funds are being held in savings accounts as per regulations.

Truong My Lan at the appellate hearing. Photo: Thanh Tung

Currently, THADS TP HCM continues to verify, survey, and appraise the assets identified by the judgment as belonging to Truong My Lan and other individuals and organizations obligated to fulfill the judgment on her behalf.

The agency also continues to request Saigon Commercial Joint Stock Bank (SCB) to transfer funds that were frozen under the appellate and first-instance judgments from both phases. Once asset liquidation results are available and the bank transfers the money, THADS TP HCM will proceed with subsequent payments to bondholders.

In April, the High People's Court in Ho Chi Minh City heard the phase two appellate trial. It accepted Truong My Lan's (69) appeal for a reduced sentence, commuting her life sentence to 20 years for property appropriation fraud. Her 12-year sentence for money laundering and 8-year sentence for illegally transporting currency across borders remained unchanged. The combined sentence is 30 years, the maximum for a fixed-term imprisonment. The court also ordered her to compensate over 30,000 billion dong to nearly 36,000 victims and more than 7,000 individuals with related rights and obligations.

In phase one of the case, in 12/2024, the High People's Court in Ho Chi Minh City upheld Lan's death sentence for embezzlement, bribery, and violating lending regulations in credit institution operations. Lan was ordered to compensate SCB nearly 674,000 billion dong.

According to the verdict, if Lan actively remedies three-quarters of the consequences, her sentence could be commuted to life imprisonment. Across both phases, Lan is obligated to fulfill judgments totaling over 704,000 billion dong.

Under new regulations from the amended Criminal Code 2015, effective 1/7, the death penalty for eight offenses, including embezzlement, has been abolished. Consequently, based on this new regulation, Lan will be spared the death penalty.

Hai Duyen