The Adjudication Committee of the Ho Chi Minh City People's Court in Vietnam sentenced Truong My Lan to death. Vietnam's richest woman, Truong My Lan, bears all the losses on the 1,243 outstanding balances of Saigon Commercial Bank. In addition to the part that has been paid, there will be about 673 trillion VND in compensation. That's $12.5 billion. She is the only one of VTP's 86 defendants who has not pleaded guilty. If Zhang Meilan insists on appealing, she will have to observe further. Zhang Meilan's husband, Zhu Liji, was sentenced to nine years in prison for violating the rules on loans in the activities of credit organizations. According to a report in Saigon's Liberation Daily, the court also dealt with evidence in the case, including the seizure of 1,169 properties directly related to Truong My Lan. Born in Saigon, Vietnam in 1956, the founder of VTP Group, Cheung Mei Lan, is a descendant of Chinese immigrants from Chaoshan, China. The Truong My Lan family has been breeding in Ho Chi Minh City for more than 100 years. The ancestral home of Zhang Meilan's family is in Gezhou, which is a well-known hometown of overseas Chinese. The Zhang Meilan family is a leader in local real estate and a large taxpayer. In May 2022, Zhang Meilan also reported the news of joining forces with Li Ka-shing. Ho Chi Minh City is among the best cities for real estate investment in the Asia-Pacific region in 2021. Mr. and Mrs. Truong My Lan received the Medal of Labor from Vietnam.
To develop a real estate project in the mainland, basically all the procedures can be completed in seven months, but in Vietnam, the actual development procedure period is as long as two ~ three years, so the problem of capital is a very big problem. The overheating of real estate has also alarmed the Vietnamese government, which has begun to tighten credit. Zhang Meilan was because of the illegal issuance of bonds in 2018~2019, and the funds raised did not flow to real estate projects that have not started for many years. Don't develop the land, sit and wait for appreciation, this set is actually learning from Li Ka-shing's set. In addition, she took control of the bank through multiple fictitious accounts, and arranged more than 2,500 loans to VTP Group and related companies through Saigon Commercial Bank, the fifth largest bank in Vietnam, with more than 1,000 trillion VND. Among them, the outstanding loans exceeded 200 billion yuan. These numbers seem very large, because the current salary level of Vietnamese people is about 2,000 yuan a month. But compared to our old Xu, it is also a small thing. This woman probably also wants to use her past achievements to flaunt herself, or think that she still has the ability to repay. So she refused to plead guilty. However, it is estimated that it will be difficult to make a comeback in this part of Vietnam! More than 40,000 victims have been deceived alone. A single bite of spit can drown him.