Former State Bank of Vietnam inspection chief receives life sentence in Van Thinh Phat scandal
Do Thi Nhan, former head of the State Bank of Vietnam's inspection and supervision department, was sentenced to life imprisonment on Thursday for receiving bribes related to the Van Thinh Phat scandal.

Do Thi Nhan, former head of the State Bank of Vietnam's inspection and supervision department, in court. Photo courtesy of Thanh Nien (Young People).
The Ho Chi Minh City People's Court also ordered Nhan to pay an additional fine of VND100 million ($4,000).
On the same day, the court sentenced Truong My Lan, chairwoman of Van Thinh Phat Group, to dealth, while her 85 accomplice received penalities ranging from suspended sentences to life imprisonment.
According to the jury, Nhan clearly knew Saigon Commercial Bank’s (SCB) situation but did not report it. Nhan met Lan through Vo Tan Hoang Van to discuss the violations. Lan asked Nhan to help SCB restructure. After the meeting, Nhan received $5.2 million via Van.
The jury said that Nhan instructed members of the inspection team to adjust the data and not put SCB under monitoring to receive a bribe of $5.2 million from Lan.
In court, Nhan declared that she had received $5.2 million to "protect her family". She claimed she had repeatedly contacted Van to return the money but failed to do so.
However, the jury assessed that Van had many opportunities to return the money. "Nhan even gave Van the password to her house so as the gift (money) could be left at her home."
Bui Anh Dung, former chairman of SCB, received a life sentence on charges of embezzlement of assets and violating regulations on banking and related activities. For the same crime, Vo Tan Hoang Van, former general director of SCB, received a life sentence.
Truong Hue Van, a nephew of Truong My Lan and general director of Windsor Real Estate Management Group, was sentenced to 17 years in prison for embezzlement of assets.
Chu Nap Kee Eric, husband of Truong My Lan, chairman of Times Square Investment Joint Stock Company, received a nine-year prison sentence for violating the regulations on lending by credit institutions or regulations on banking and related activities.
For the crime of abusing trust to appropriate property, Nguyen Cao Tri, chairman cum general director of Capella Company, received eight years behind bars.
Among the defendants that were wanted and tried in absentia, Dinh Van Thanh, former chairman of SCB, received a combined sentence of life imprisonment for embezzlement of assets and violating regulations on lending by credit institutions.
Chiem Minh Dung, former deputy general director of SCB, was sentenced to 17 years in prison for violating regulations on banking and related activities.
Tram Thich Ton, a board member of SCB, received 16 years behind bars for violating regulations on lending by credit institutions. For the same crime, Nguyen Thi Thu Suong, chairman of SCB, was sentenced to 17 years in prison.
- Read More
VSIP starts work on industrial park project in northern Vietnam province Thai Binh
Construction of the Vietnam-Singapore Industrial Park (VSIP) Thai Binh commenced on Wednesday in northern Vietnam, with the witness of Vietnamese Prime Minister Pham Minh Chinh and his Singaporean counterpart Lawrence Wong.
Industrial real estate - Wed, March 26, 2025 | 10:41 pm GMT+7
Vingroup starts building mega urban project in Vietnam's Mekong Delta
Vietnam’s leading private conglomerate Vingroup on Wednesday embarked on construction of the VND28 trillion ($1.1 billion) Vinhomes Green City, the first mixed-use urban development in its ecosystem in the Mekong Delta province of Long An.
Real Estate - Wed, March 26, 2025 | 10:11 pm GMT+7
Indonesia, China cooperate in digital technology
Indonesia and China are expanding cooperation in the field of AI to promote digital transformation, especially in the fields of agriculture and smart cities.
Southeast Asia - Wed, March 26, 2025 | 10:01 pm GMT+7
Indonesia decides to join BRICS New Development Bank
Indonesian President Prabowo Subianto has announced the Government's decision to become a member of the New Development Bank (NDB), a multilateral development bank established by the five founding member states of the BRICS group.
Southeast Asia - Wed, March 26, 2025 | 9:57 pm GMT+7
Major Vietnamese broker SHS to double charter capital
Saigon-Hanoi Securities Corporation (SHS) plans to issue 894 million shares to increase its charter capital from VND8.13 trillion to VND17.07 trillion ($667.6 million), making it one of the top three securities firms in term of charter capital.
Companies - Wed, March 26, 2025 | 8:30 pm GMT+7
Elon Musk company okayed to pilot Starlink satellite internet service in Vietnam
Vietnam has allowed the U.S.'s SpaceX to pilot Starlink low-orbit satellite internet service in the country on a pilot basis until January 1, 2031.
Industries - Wed, March 26, 2025 | 5:18 pm GMT+7
Danish toymaker Lego to open $1.3 bln Vietnam plant next month
Denmark's Lego will officially open its factory in VSIP III Industrial Park in Vietnam's southern province of Binh Duong on April 9.
Industries - Wed, March 26, 2025 | 4:18 pm GMT+7
Top Singaporean firms earn high incomes in Vietnam
Singapore is the second-biggest foreign investor in Vietnam, with over $84 billion in registered investment capital as of end-January and many prominent investors raking in high incomes.
Companies - Wed, March 26, 2025 | 3:45 pm GMT+7
Vietnam, Singapore ink significant deals in Hanoi
Vietnamese Prime Minister Pham Minh Chinh and his Singaporean counterpart Lawrence Wong on Wednesday witnessed the signing of many cooperation deals between agencies and enterprises of the two countries.
Economy - Wed, March 26, 2025 | 2:51 pm GMT+7
Vietnam's major policies are reshaping economic development
Major policies are reshaping Vietnam's approach to economic development, which focuses on science, technology, and private enterprises, said a leader at the Vietnam Chamber of Commerce and Industry (VCCI).
Economy - Wed, March 26, 2025 | 12:11 pm GMT+7
PM okays over $10 bln urban area project in central Vietnam
The over VND260.3 trillion ($10.16 billion) Cam Lam New Urban Area project in the south-central province of Khanh Hoa has received in-principle approval from Prime Minister Pham Minh Chinh.
Real Estate - Wed, March 26, 2025 | 8:58 am GMT+7
S Korea's KIM Fund raises stake in Vietnam's marine transportation firm VIPCO
South Korea’s KIM Fund has increased its stake in Hai Phong city-based Vietnam Petroleum Transport JSC (VIPCO, HoSE: VIP) to 2.73%, making it the latter’s second-largest shareholder.
Companies - Wed, March 26, 2025 | 8:30 am GMT+7
Vietnam, Singapore seek cooperation chances in semiconductor industry
The Vietnam Trade Office in Singapore, in collaboration with the Singapore Semiconductor Industry Association (SSIA), organized a hybrid seminar on Monday to introduce Vietnam's potential, advantages, and development strategies for the semiconductor industry.
Southeast Asia - Tue, March 25, 2025 | 10:55 pm GMT+7
OV intellectuals in UK suggest blueprint for Vietnam’s int’l financial hub ambition
Vietnam can rise as a major international financial centre, both regionally and globally, with a strategic vision that highlights transparency, a skilled workforce, modern infrastructure, robust financial markets, and strong international branding, the Vietnam Intellectual Society in the UK and Ireland (VIS) told visiting Vietnamese Permanent Deputy Prime Minister Nguyen Hoa Binh in a recent meeting.
Southeast Asia - Tue, March 25, 2025 | 10:55 pm GMT+7
Vietnam Deputy PM discusses financial center development with ECB
Vietnam's Standing Deputy Prime Minister Nguyen Hoa Binh on Monday met with representatives of the European Central Bank (ECB) to discuss plans for the establishment of financial centers in Vietnam, as part of his working visit to Germany – the final stop in his European tour.
Southeast Asia - Tue, March 25, 2025 | 10:52 pm GMT+7
Indonesia keeps commitment on energy transition
Indonesian Coordinating Minister for Economic Affairs Airlangga Hartarto on Monday affirmed that the U.S. decision to pull out of the Just Energy Transition Partnership (JETP) will not impact the other partners' commitment to it.
Southeast Asia - Tue, March 25, 2025 | 10:35 pm GMT+7