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Oct 08, 2022 / 16:39

Van Thinh Phat Chairwoman arrested

Van Thinh Phat is one of Ho Chi Minh City's leading real estate companies, owning several properties in prime locations in the city.

The chairwoman of Van Thinh Phat Group Truong My Lan has been arrested for alleged fraud in the issuance of corporate bonds, illegally earning millions of dollars during the 2018-2019 period.

 Chairwoman of Van Thinh Phat Group Truong My Lan.

The apprehension came following the Ministry of Public Security's announcement over the prosecution of the case of appropriation of assets by deceit at Van Thinh Phat and other related companies.
Others have also been arrested, including Truong Hue Van, General Director of Windsor Real Estate Management Company; Nguyen Phuong Hong, an assistant at Van Thinh Phat; and Ho Buu Phuong, former Chairman of Director of Boards at Tan Viet Securities Company.
Truong My Lan founded the Van Thinh Phat Group in 1991, which became one of the leading real estate companies with several properties in prime locations in Ho Chi Minh City, such as the Time Square building.