What is the Truong My LAN Net Worth? Read details about Truong My Lan and her business loan scam here.
Personal Information
| Name: | Truong My LAN |
| Popularly Known As: |
Truong Muoi |
| Net Worth: | Not known (because Lan has been involved in fraud case) |
| Birthdate: | 13th October 1956 |
| Birthplace: | Siagon, South Vietnam |
| Height: | Not known |
| Gender: | Female |
| Nationality: | Vietnamese |
| Profession: | Real estate tycoon in Vietnam, Business Woman, Chairperson |
| Husband | Lan married Eric Chu Nap Kee in 1992 |
|
Children |
Lan has two daughters |
What are the Wiki Details of Truong My Lan?
Truong My Lan is a businesswoman; however, she is currently in prison. People Worldwide are interested in the details related to Lan’s embezzlement case. She was sentenced to death on April 11, 2024.
As per sources, any details related to her net worth are pointless because she embezzled the money and orchestrated a billion-dollar scam. As per sources, she was the prime culprit of the $12.5 billion scam.
As per sources,The government of Vietnam was alarmed when the fraud was disclosed. On August 6, 2022, Lan was arrested after the authorities collected all the evidence against her. Because of the 12.5 billion-dollar scam, the country’s financial systems are under fire.
The amount of scams is around three percent of Vietnam’s GDP. This case is considered to be South Asia’s most significant scam case. After two years of hearings and court dates, on April 11, the court made the final judgment.
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What is Lan’s Age & Case Details?
As per the details available, Lan is 67 years old. She belongs to the Chinese heritage. Truong My Lan and her family were known as Vietnam’s wealthiest family. However, only some knew about how they became rich.
Lan issued illegal bonds of ten million dollars between 2018 and 2019. She then forged around 916 loan applications (that were fake). And through those phony loan applications, she disbursed around 304 trillion dongs from the Sai Gon Joint Stock Commercial Bank.
Lan owns the SCB bank. She has more than 90 percent of its shares. Between 2018 and 20219, she transferred 12.5 billion dollars to her companies.
As per sources, later, three of the SCB employees committed suicide due to a bank run that happened in the same year as her arrest. The whole scam was planned to benefit Lan and her family-run business. She emerged as the main culprit behind all of this.
SCB was Vietnam’s largest bank by assets. It was established in Ho Chi Min City in 2012 by Truong My Lan by merging three small bankrupt banks.
The shocking fact was that the State Bank of Vietnam approved the merger, even though Lan owned 93% of the bank’s shares and controlled it.
Biography Details of Truong My Lan
Truong My Lan was born on October 13, 1956, in Saigon (Ho Chi Min City), South Vietnam. She and her mother used to own a business selling hair accessories in Ho Chi Minh City.
She used connections to enter the real estate business during the communist regime in the country. In 1992, she established a real estate company, Van Thinh Phat Group, and Lan was on its board of directors.
The firm built luxury residential buildings, offices, shopping centers, and hotels. It was also registered to provide financial services. In 2011, she established the Sai Gon Joint Stock Commercial Bank, also known as SCB.
Details such as her parents’ and daughters’ names are not present on the internet currently. Her family and sibling-related facts are also not available.
Lan gradually became one of the wealthiest women in the country, and her family became one of the richest in the country. Their real estate firm was making profits, and the commercial bank was running smoothly.
More Details About Lan’s Scam
The trial started at the Ho Chi Minh City People’s Court on March 5, 2024. In contrast, the Malaysian 1MDB scandal in the 2010s involved only €4.1 billion, making it the most significant corruption case in Southeast Asia.
In addition to her husband and niece, there were 82 other defendants: “45 of them are former SCB leaders, 15 former State Bank of Vietnam executives, three former Government Inspectorate officers, and one former State Audit Office officer.
Lan was found guilty of embezzlement on April 11, 2024, and sentenced to death by lethal injection. Each of the remaining defendants was deemed guilty and given a sentence that varied from life in prison to three years with a three-year suspension.
As per sources, Nine and seventeen years, respectively, were handed down sentences for her husband and niece. Also, five of the members of the SCB organization have been missing since the arrest of Lan.
More Details About Lan’s Biography
Vietnamese businesswoman Trương Mỹ Lan was born on October 13, 1956, and her ancestry is Chinese. She is the creator of the real estate development company Vạn Thịnh Phát Group.
She was taken into custody in October 2022 after she used fictitious loan applications to steal about US$12.5 billion from Sai Gon Joint Stock Commercial Bank, which she operated through the way of over two dozen intermediaries. It resulted in a bank run.
As per sources, the trial for theft of funds, bribery, and breaking banking regulations started in March 2024. It is regarded as Southeast Asia’s biggest-ever corruption scandal. Lan was given a death sentence on April 11, 2024.
Eric Chu Nap Kee, a Hong Kong real estate entrepreneur, is Lan’s spouse. Her husband was also called to the trial in March 2024, as was her 34-year-old niece Trương Huệ Vân, who is the CEO of a property management company.
One of the wealthiest families in Vietnam is Lan’s family. The $12.5 billion that Lan embezzled is around 3% of Vietnam’s GDP in 2022.
Her niece, who had been staying with her since growing up, acknowledged in March 2024 that she had set up 52 shell firms and four actual companies in order to get 155 loans from SCB.
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