Truong My Lan
Coverage of Truong My Lan in the Nexus archive.
- Vietnam Auctions Convicted Tycoon’s Luxury Car, Hermès Handbags For Over $1M
Vietnam is auctioning luxury assets, including a car and Hermès handbags, belonging to Truong My Lan, a property developer serving a life sentence for orchestrating the country's largest corruption scandal. The auction aims to recover assets tied to her criminal activities.
- Vietnam sells disgraced tycoon’s Hermes bags to recoup US$27 billion in damages
Vietnam auctioned two Hermès handbags owned by disgraced real estate tycoon Truong My Lan for $539,000 as part of efforts to recover $27 billion in court-ordered damages from the nation's largest fraud case. The government is systematically auditing and liquidating Lan's assets to recoup losses and compensate approximately 42,000 bondholders who have so far received over 12 trillion dong in repayments.
- Vietnam’s Convicted Mogul Repays $455 Million to Bondholders
Truong My Lan, chairwoman of Van Thinh Phat Holdings, has repaid $455 million to bondholders while facing a second trial on fresh fraud charges in Ho Chi Minh City. The case reflects the new Communist Party chief's intensified crackdown on corruption among Vietnamese business elites.