Key Takeaways:
- Truong My Lan, a Vietnamese property tycoon sentenced to death, is suspected of illegally moving billions of dollars overseas.
- Two foreign accomplices, one from Britain and one from Hong Kong, are being sought by police for their alleged roles.
- Lan is accused of creating fake contracts and using suspicious bank transactions to funnel money.
- This case is part of a larger investigation into $4.5 billion in illegal transfers.
Vietnamese authorities are searching for two foreign accomplices of death row convict Truong My Lan, a property tycoon accused of a massive financial scandal.
Lan, the former chairwoman of Van Thinh Phat, is suspected of illegally moving billions of dollars overseas.
Police are looking for Chiu Bing Keung Kenneth, a British national, and Chen Yi Chung, a Hong Kong citizen.
Kenneth allegedly helped Lan create fake contracts to funnel VND34 trillion ($1.3 billion) in and out of Vietnam through Van Thinh Phat subsidiaries.
Meanwhile, Chen, the former acting CEO of Saigon Commercial Bank (SCB), is accused of sending and receiving hundreds of millions through suspicious transactions on behalf of Van Thinh Phat.
Lan reportedly confessed to directing these illegal activities involving both Kenneth and Chen. Both men have fled Vietnam, hindering the investigation.
This case is just one piece of a larger financial puzzle.
Authorities estimate Lan and her associates illegally transferred $4.5 billion abroad over a decade. While Lan claims these were legitimate loans and debt repayments, police are recommending additional charges against her, including money laundering and illegal currency transfers.
This comes on top of her existing death sentence for causing a separate $27 billion loss to SCB, a sentence she is appealing. Thirty-three others are also facing charges related to the financial scandal.
Image—Berita Tular
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