TRUONG MY LAN VIETNAMESE GOVERNMENT CLAIMS TRUONG MY LAN DEFRAUDED 14 BILLION US DOLLARS SAIGON

NGUYEN  KINH  DOANH

VIETNAMESE GOVERNMENT CLAIMS TRUONG MY LAN DEFRAUDED 14 BILLION US DOLLARS

The average salary in Vietnam is 17.2 million Vietnamese Dong (VND) per month or 733 USD/month (according to the exchange rates in May 2023) — which is significantly lower than the average salaries in countries like the USA or UK. 

This low-cost labor, a highly educated workforce, and government support for entrepreneurship make Vietnam ideal for most IT, manufacturing, and BPO outsourcing companies. 

Vietnam Property Tycoon Faces Trial Over $12.5 Billion Fraud    A Vietnamese court will try prominent businesswoman Truong My Lan in a case of alleged fraud that resulted in trillions of dong in losses to  lenders.     Worldwide gross domestic product in 2022 was at about 12,607 USD per capita. GDP in Vietnam, on the other hand, reached USD 4,164 per capita, or 408.80 billion USD for the whole country. Vietnam is therefore currently ranked 36 of the major economies. Inflation in Vietnam in 2022 was around 3.16%. In November 2021 Salt Bae hand-fed a Vietnamese Public Security Minister To Lam US $2,000   gold encrusted steak  gold-covered steak in a viral TikTok video – and local social media users are furious over the splurge Asian Angle  by Zachary Abuza Vietnam’s corruption, poor economic management will hinder its growth — as Truong My Lan scandal shows

• The multibillion dollar scandal involving Than’s Van Thinh Phat and Saigon Commercial Bank shows that regulators are overwhelmed – and on the take
• Not only does Vietnam’s banking system remains fragile and vulnerable to simultaneous bank runs, but corruption is endemic even at the highest levels

 
Arrest of Vietnamese businesswoman reveals shady links with China  

The arrest of the chairwoman of the Vietnam-based Van Thinh Phat Holdings Group, Truong My Lan, has again brought the Chinese connection with business tycoons in Vietnam into the limelight, The Singapore Post reported.

Earlier, on 8 October, Truong My Lan was arrested on suspicion of financial fraud as the country intensified its long anti-graft fight drive, The Strait Times reported. Truong My Lan was accused of illegally issuing bonds to raise trillions of dong (tens of millions of dollars) from investors during the 2018-2019 periods, the Ministry of Public Security of Vietnam said in a news statement released on 8 October.

Truong My Lan’s husband, who is Cantonese Chinese and deals in real estate, is reported to be a distant family member of former disgraced Chinese security tsar Zhou Yongkang and maintains strong ties with senior party functionaries in China.

On June 11, 2015, Zhou was convicted of bribery, abuse of power and the intentional disclosure of state secrets by the Intermediate Court in Tianjin.  Zhou and his family members were said to have taken 129 million yuan (over $20 million) in bribes. He was sentenced to life in prison.
 

The unnatural deaths of three senior executives from Van Thinh Phat Group during the first few days of October 2022 raised speculation of Chinese 

Trần Đại Quang (12 October 1956 – 21 September 2018) was a Vietnamese politician and former police general who served as the eighth President of Vietnam from 2016 until his death in 2018. After serving for five years as the Minister of Public Security (2011–2016), Quang was nominated by his predecessor TrÆ°Æ¡ng Tấn Sang to the presidency and was elected to the post by the National Assembly of Vietnam on 2 April 2016. He was one of the country's top leaders and ranked second in the Politburo behind Nguyá»…n Phú Trọng, the Communist Party General Secretary.

At the 12th Congress of the Communist Party of Vietnam in January 2016 Trần Đại Quang was nominated President of the Socialist Republic of Vietnam and confirmed on 2 April 2016 by the National Assembly of Vietnam. On that day, he succeeded TrÆ°Æ¡ng Tấn Sang. On the same day he proposed Nguyá»…n XuânPhúc as the new head of government. He died in office on 21 September 2018, from a viral disease, aged 61.

Ông died on February  18, 2014 at Central Military Hospital 108 in  Hà Ná»™i because "liver cancer".,
     Dzung confessed at the Court that he helped Truong My Lan in 2010 of Van Thinh Phat to give Pham Quy Ngo 1 million US dollars. Ngoài ra, DÅ©ng cÅ©ng khai là Ä‘ã giúp bà TrÆ°Æ¡ng Mỹ Lan của Công ty Vạn Thịnh Phát á»Ÿ TP Hồ Chí Minh vào năm 2010 chuyển khoản tiền hối lá»™ 1 triệu USD cho Phạm Quý Ngọ. The death of Tran Dai Quang and Pham Quy Ngo seem to be mysterious.  
 

The Vietnamese authorities are assuming that the three people, belonging to the Van Thinh Phat group, have been eliminated

 
At VTP Group Holdings, Ms. Lan owns 80% of the shares, equivalent to a capital contribution worth 4,800 billion VND.
Van Thinh Phat case: Truong My Lan withdraws money from SCB, brings it abroad to invest

A representative of the Ministry of Public Security said that after withdrawing money from SCB, the defendant Truong My Lan, chairman of Van Thinh Phat, took it to invest, bought and collected large real estate nationwide, and brought it abroad for investment.     In 1966,   Ta Vinh, a Chinese Vietnamese was shot in Saigon accusing corruption and rice monopoly.  What will be the penalty for Truong My Lan?  News media  mention life imprisonment or death sentence.  Time shall answer.                NGUYEN  KINH DOANH  nguyendoanh92024@gmail.com