Lan, who founded real estate development group Van Thinh Phat, told the court in Ho Chi Minh City that “the quickest way” to repay the stolen funds would be “to liquidate SCB, and sell our assets to repay SBV and the people”.
“I feel pained due to the waste of national resources,” Lan said last week, adding she felt “very embarrassed to be charged with this crime”.
Lan owned just 5 per cent of shares in SCB on paper, but at her trial the court concluded that she effectively controlled more than 90 per cent through family, friends and staff.
The State Bank said in April that it pumped funds into SCB to stabilise it, without revealing how much.
Among the assets that Lan and Van Thinh Phat own are a shopping mall, a harbour and luxurious housing complexes in business hub Ho Chi Minh City.
During her first trial in April, Lan was found guilty of embezzling US$12.5 billion, but prosecutors said the total damages caused by the scam amounted to US$27 billion – equivalent to around 6 per cent of the country’s 2023 GDP.
Lan and dozens of defendants, including senior central bank officials were arrested as part of a national corruption crackdown dubbed the “burning furnace” that has swept up numerous officials and members of Vietnam’s business elite.
A total of 47 other defendants have requested reduced sentences at the appeal.
Last month, Lan was convicted of money laundering and jailed for life in a separate case.
Source: CNA
