Van Thinh Phat Group chairwoman-related assets frozen
The Ministry of Public Security's investigative agency has frozen 22 assets including one yacht, two ships and 19 cars belonging to Truong My Lan, chairwoman of Ho Chi Minh City-based real estate developer Van Thinh Phat Group, and other legal entities.
A series of real estate developments related to Lan were also confiscated by the agency to remedy the consequences of her violations, it said.

Truong My Lan, chairwoman of real estate developer Van Thinh Phat Group. Photo courtesy of the company.
The agency seized a total of nearly VND599 billion ($24.68 million) and nearly $15 million related to Lan and other defendants. The 43 bank accounts of the defendants and individuals in their names have been frozen, with a total amount of VND1,896 billion ($78.14 million) and nearly $8.5 million.
Police have also blocked transactions worth VND789.8 billion ($32.55 million) at an account with Saigon Commercial Bank (SCB).
Related to Lan, the investigative agency temporarily confiscated 1,266 original copies of land use rights and construction project certificates; 1,784 photocopies of land use rights certificates; a list of 269 properties for rent and 21 notarized contracts; and 147 compensation agreements for land plots belonging to the Phuoc Kien project in HCMC’s Nha Be district.
Police have also frozen 1,237 properties related to Lan and 857 million SCB shares held by Lan and individuals in her name. As many as 61 properties of other defendants have been frozen and eight real estate transactions have been blocked.
On Friday, Truong My Lan was accused of controlling operations at SCB to appropriate over VND304 trillion ($12.53 billion). The Ministry of Public Security's investigative agency proposed prosecuting her for giving bribes, violating regulations on banking activities, and embezzlement.
Relating to the scandal at Van Thinh Phat, SCB and related units, 85 others also face trials for embezzlement; violating regulations on banking activities; receiving bribes; abusing positions and power while performing official duties; showing a lack of responsibility, causing serious consequences; and abusing trust to appropriate property.
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