In the latest development of the Van Thinh Phat fraud case, the HCM City People's Court has issued a notice to more than 35,000 bondholders, urging them to verify their personal information and follow trial updates on the court's online portal.

Saigon Commercial Bank (SCB) has recently closed 9 branches in just two days, pushing the total number of closed branches to 91. This comes in the wake of the bank’s ongoing financial difficulties linked to the Van Thinh Phat scandal.

In the second phase of the Van Thinh Phat case, Truong My Lan's personal secretary and driver have been indicted for money laundering. The Chairwoman of Van Thinh Phat Group used these individuals to carry out her personal objectives.

The Ministry of Public Security has requested international cooperation to verify the legal status and relationships of 11 organizations linked to Truong My Lan and her husband. The results are still pending.

In the second phase of the Van Thinh Phat case, the Supreme People's Procuracy has identified 35,824 investors as victims, holding 25 bond codes from four companies: An Dong, Quang Thuan, Sunny World, and Setra.

The State Securities Commission has suspended the professional status of four auditors from Deloitte Vietnam following the SCB case. This decision has raised questions regarding the role and responsibility of auditors in such incidents.

Two foreigners are wanted by authorities for their alleged involvement in illegal cross-border transfers of US$4.5 billion related to Van Thinh Phat group and its chairwoman, Truong My Lan.

Police are urging Van Thinh Phat group to collaborate with Tan Viet Securities and Saigon Commercial Joint Stock Bank (SCB) to compensate over 35,000 victims in a billion-dollar bond fraud case, considered the most severe in Vietnam’s history.

In the second phase of the Van Thinh Phat case, the investigative agency has uncovered illicit financial activities abroad, involving over 106 trillion VND (equivalent to $4.5 billion) orchestrated by Truong My Lan and other individuals.

Victims of the billion-dollar Van Thinh Phat bond fraud case are urging authorities to expedite the investigation since they face financial ruin.

In the second phase of the Van Thinh Phat case, the Investigation Agency has undertaken extensive measures to freeze, seize, and temporarily detain a substantial amount of assets linked to Truong My Lan and other defendants.

The police have recommended prosecuting convicted property tycoon Truong My Lan and 33 others for fraudulent appropriation of assets, money laundering and illegal cross-border currency trafficking, the ministry released on June 5.

Police are continuing to urge victims to come forward and provide any relevant information and documents in a VNĐ30 trillion (US$1.18 billion) bond fraud case, part of what is considered the largest financial scandal in Vietnam’s history.

The Ministry of Public Security is urging victims who bought bonds from Van Thinh Phat Group and three affiliated companies to provide information and documents to aid the ongoing investigation into a massive fraud scheme.

Truong My Lan, chairwoman of Van Thinh Phat Holdings Group Corporation, has appealed against the death sentence imposed on her by the lower court, said local media reports.

Several businesses linked to Van Thinh Phat Group are grappling with a huge debt burden amounting to VND52.4 trillion, the Ministry of Finance said.

Truong My Lan, Chairwoman of property developer Van Thinh Phat Group, was sentenced to death at the first-instance trial in Ho Chi Minh City on April 11.

The business run by Truong My Lan and her family, the president of Van Thinh Phat Group, holds 93.6 percent of the Daewoo Hanoi Hotel stake. The hotel is among the most valuable in Vietnam and has changed hands many times.

Truong My Lan, chairwoman of real estate developer Van Thinh Phat, is facing death penalty for bribery, violating bank regulations and embezzlement, which is considered the largest financial scandal in Southeast Asia.

During an ongoing trial in HCM City, the 68-year-old real estate tycoon said she would use her personal assets, excluding those seized and frozen by the police, to resolve the consequences of the fraud case if found guilty.