Twenty-three additional government officials are now under investigation for their alleged involvement in financial misconduct linked to the embattled property developer Van Thinh Phat and the lender SCB. According to the Central Internal Affairs Committee of the Communist Party of Vietnam, among the suspects are six government inspectors and 12 officials from the State Bank of Vietnam (SBV).
The expanded list of individuals under scrutiny includes a department head from the Government Office, an official from the National Financial Supervisory Commission, a representative from the Central Inspection Committee, a chief inspector from Lam Dong Province, and a deputy director from the SBV Ho Chi Minh City branch.
This investigation marks the third criminal case related to Van Thinh Phat and SCB. In the initial case, 86 individuals, including 24 government officials, faced charges related to embezzlement, bribery, and receiving bribes.
The focal point of these alleged violations is Van Thinh Phat chairwoman Truong My Lan, who is accused of unlawfully withdrawing VND1 quadrillion ($44 billion) from SCB over a decade. This amount is equivalent to one-fifth of Vietnam’s GDP as of September-end. The sheer scale of this financial misconduct positions it as one of the most significant in Vietnam’s recent history.
It is claimed that Lan and her accomplice bribed all 24 officials from the SBV, with one official from the inspection and supervision department allegedly receiving as much as $5.2 million.