Former State Bank inspection chief prosecuted in Van Thinh Phat scam
Do Thi Nhan, former head of the State Bank of Vietnam's banking inspection and supervision department II, has been prosecuted for alleged wrongdoings related to the Van Thinh Phat scandal.
Major General Nguyen Van Thanh, deputy director of the Ministry of Public Security's department for investigation of crimes related to corruption, economy and smuggling (C03), told local media on Tuesday that Nhan has been prosecuted for abusing her position and power while on duty.
C03 also prosecuted four other people from an inter-sectoral inspection team under the banking inspection and supervision department.
Van Thinh Phat Group head office at 193-203 Tran Hung Dao street, District 1, HCMC. Photo courtesy of Young People newspaper.
According to C03, Nhan and members of the inspection team falsely reported inspection results to SBV leaders, leading to the untimely supervision of Saigon Commercial Bank (SCB). "This is a serious violation," said Major General Thanh.
The central bank last October placed SCB under special control over stability concerns. Previously, many SCB branches and transaction offices recorded a run on deposits due to concerns about the bank’s financial health.
C03 has prosecuted 32 people in two cases related to violations at HCMC-based property developer Van Thinh Phat Group.
Last October, the first four people prosecuted and detained were Truong My Lan, chairman of Van Thinh Phat Group; Truong Hue Van, general director of Windsor Property Management Group JSC; Nguyen Phuong Hong, assistant to Van Thinh Phat Group; Ho Buu Phuong, former chairman of Tan Viet Securities JSC and former deputy general director in charge of finance of Van Thinh Phat Group.
All the four people were investigated for fraud to appropriate trillions of Vietnamese dong (VND1 trillion = $42.54 million) from people in issuance and trading of bonds in the period of 2018-2019.
- Related News
- Read More
Vingroup plans $38 mln bond issuance to restructure debt
Vingroup (HoSE: VIC), Vietnam’s largest listed company by market cap, plans to issue VND1 trillion ($37.91 million) in bonds via private placement as it seeks to restructure debt.
Companies - Tue, November 25, 2025 | 3:52 pm GMT+7
Vietnam gov't proposes minimum $379 mln charter capital for offshore wind developers
The Vietnamese government has proposed that offshore wind power developers have a minimum charter capital of VND10 trillion ($379 million) each, according to a draft resolution designed to ease bottlenecks in the country’s 2026-2030 energy development plan.
Energy - Tue, November 25, 2025 | 3:41 pm GMT+7
Petrovietnam arm to venture into CO2 transportation, seabed minerals, geothermal
PVEP, the upstream arm of state giant Petrovietnam, plans to expand into new fields such as CO2 transportation and disposal (carbon capture, utilization, and storage), coal gas and underground mineral research, seabed minerals, and geothermal.
Industries - Tue, November 25, 2025 | 3:08 pm GMT+7
MB successfully closes landmark $500 mln inaugural green term loan facility agreement
Military Commercial Joint Stock Bank (MB) on Monday announced the successful closing of its three-year $500 million inaugural Green Term Loan Facility Agreement, marking a significant milestone in the bank’s sustainable financing journey.
Banking - Tue, November 25, 2025 | 2:17 pm GMT+7
Impact of rising exchange rates in Vietnam
Mirae Asset Securities analysts offer an insight into the impact of rising exchange rates on companies in Vietnam in a report dated November 21.
Economy - Tue, November 25, 2025 | 1:35 pm GMT+7
Vietnam's industrial park developers post strong earnings as tenant demand rebounds
Vietnam’s industrial real estate sector is showing stronger earnings and improving demand, with foreign tenants resuming lease negotiations after U.S. tariff policies became clearer, according to a brokerage report.
Industrial real estate - Tue, November 25, 2025 | 11:07 am GMT+7
Vietnamese export stocks under the radar despite strong earnings
Investor caution over tariff risks and the slowdown of major economies has prevented Vietnamese export stocks from making a strong price recovery.
Finance - Tue, November 25, 2025 | 8:44 am GMT+7
Indonesia plans 7 initial waste-to-energy plants next year
Indonesia will start the construction of seven waste-to-energy power plants in 2026 as the first step to develop 33 such facilities by 2029.
Southeast Asia - Mon, November 24, 2025 | 9:23 pm GMT+7
Malaysia predicted to be ASEAN’s second-fastest-growing economy, after Vietnam
Malaysia is poised to become the second-fastest-growing economy in the Association of Southeast Asian Nations (ASEAN) after Vietnam, data showed.
Southeast Asia - Mon, November 24, 2025 | 9:19 pm GMT+7
Thailand SCG-backed Bien Hoa Packaging plans delisting from HCMC bourse
Bien Hoa Packaging JSC, a 57-year-old manufacturer in Vietnam, plans to scrap its public-company status and delist from the Ho Chi Minh Stock Exchange (HoSE) as its free float fell below the minimum threshold under local securities law.
Companies - Mon, November 24, 2025 | 9:06 pm GMT+7
Real estate, industrials sectors lead in October M&A value in Vietnam
Grant Thornton analysts provide an insight to capital flows, the sectors attracting investor attention, and the market dynamics influencing the merger and acquisition (M&A) landscape in Vietnam in October.
Economy - Mon, November 24, 2025 | 4:39 pm GMT+7
Tobacco giant Vinataba to sell entire stake in instant noodle maker Colusa-Miliket
State-owned Vietnam National Tobacco Corporation (Vinataba) plans to divest its entire 20% stake in Colusa-Miliket, the company behind the iconic “Miliket” (two-shrimp) instant noodle brand, seeking to raise at least VND114 billion ($4.32 million).
Companies - Mon, November 24, 2025 | 4:10 pm GMT+7
VinSpeed cannot participate in North-South high-speed rail project under PPP model: exec
Pham Nhat Vuong, founder of VinSpeed High-Speed Rail Investment and Development JSC, has mapped out a clear 30-year financing plan for the gigantic North-South high-speed rail project, said an executive at Vingroup, a VinSpeed investor.
Infrastructure - Mon, November 24, 2025 | 3:51 pm GMT+7
Delivery major Viettel Post plans $21 mln logistics center in central Vietnam
Viettel Post, the courier arm of military-run telecom giant Viettel, has completed a site survey for a planned 21-hectare logistics center in the central province of Ha Tinh, with an estimated investment of nearly VND550 billion ($20.87 million).
Industries - Mon, November 24, 2025 | 11:49 am GMT+7
Honda Mobilityland eyes 600-ha sports, entertainment, tourism complex in southern Vietnam
Honda Mobilityland Corporation, a subsidiary of Japan’s Honda Motor Co., plans to build an international circuit in Tay Ninh province, towards developing a 600-hectare sports, entertainment, and tourism complex there.
Industries - Mon, November 24, 2025 | 11:23 am GMT+7
State-controlled shipping line Vosco steps up coal trading to seek new revenue drive
Vietnam Ocean Shipping JSC (Vosco), controlled by the state-run Vietnam Maritime Corporation, is moving deeper into coal trading as the shipping line increasingly bids for large import contracts for thermal power plants, marking a push beyond its core maritime transport business.
Companies - Mon, November 24, 2025 | 8:36 am GMT+7
