How a Property Investor stole $12.5 Billion in the Largest Commercial Bank in Vietnam |Truong My Lan

How this Property Investor stole $12.5 Billion in the Largest Commercial Bank in Vietnam? She directed the group of defendants at Van Thinh Phat Group to establish, receive transfers, and use thousands of legal entities to name the loan; transfer or receive money from abroad; Release Stock; Name the project; Restructuring share ownership between companies, transferring shares and assets to individuals according to the purposes of Ms. Truong My Lan and her accomplices.Show more

The Vietnamese government learnt of her shocking levels of fraudulence in early 2023, when President Nguyen Xuan Phuc and two deputy prime ministers were forced to step down, for 'violations and wrongdoings' related to pandemic-era corruption scandals.

Truong My Lan and her accomplices were Caught and charged with illegally controlling the Saigon Joint Stock Commercial Bank between 2012 and 2022 to syphon off billions of pounds worth of funds through thousands of ghost companies and by paying bribes to government officials.
She was accused of using that power to appoint her own people as manager and ordering them to approve loans – which reportedly made up 93% of the bank’s total lending – to the network of shell companies she controlled.
Truong My Lan and her co-conspirators were accused of allowing 2,500 loans resulting in losses of $27 billion to the bank.
According to prosecutors, over a three-year spell beginning in February 2019 She ordered her driver to withdraw over $4 billion in cash from the bank to be stored in her basement.
She was also accused of bribery, committed to ensure her loans weren’t scrutinised. The court sentenced her to death saying that her actions 'not only violate the property management rights of individuals but also pushed SCB into a state of special control, eroding people's trust in the leadership of the Communist party and State.

Truong my lan case is one of the biggest bank fraud in the world, watch the to see how she commited one of the largest bank fraud.

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