VIETNAM real estate tycoon Truong My Lan, sentenced to death in the country’s largest-ever financial fraud case, had illegally transferred money abroad, according to police, with state media reporting $4.5 billion had been moved.
Police said late on Wednesday an investigation into those transfers and money laundering has been completed, but gave no further details.
State media said on Thursday that Lan had illegally transferred $1.5 billion out of Vietnam and moved $3 billion into the country. The reports did not specify which countries were the recipients or origins of that money.
A court in April sentenced Lan to death for her role in siphoning off more than $12 billion from Saigon Joint Stock Commercial Bank (SCB), which she effectively controlled through dozens of proxies, despite rules strictly limiting large shareholding in lenders.
SCB did not immediately respond to a request for comment on Thursday and Lan’s legal representatives could not be reached.
Lan is also accused of laundering 445.7 trillion dong, including the money she and her accomplices siphoned off from SCB and from her illegal bond issuance, Thanh Nien newspaper reported on Thursday.
