Trương Mỹ Lan is a prominent Vietnamese businesswoman of Chinese heritage,
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She was born into a family of Chinese heritage in Shantou, Guangdong and is married to Eric Chu Nap Kee, a businessman in the real estate sector in Hong Kong.
After venturing into the hair accessories business in Ho Chi Minh City, Lan quickly recognized the opportunities within Vietnam’s burgeoning real estate sector.
Leveraging her connections with the Communist regime, she established the Van Thinh Phat Group in 1992, setting the stage for her ascent in the industry.
Under Lan’s leadership, the Van Thinh Phat Group became synonymous with luxury residential developments, office complexes, hotels, and shopping centers.
However, Lan’s rapid success was not without controversy. In 2012, she assumed control of the Sai Gon Joint Stock Commercial Bank (SCB), Vietnam’s largest bank by assets
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Despite facing bankruptcy, SCB was salvaged through a merger facilitated by Lan, who retained significant control through a network of intermediaries.
Allegations of financial misconduct and embezzlement soon surfaced, leading to Lan’s arrest in October 2022.
The Vietnamese government accused her of orchestrating a sophisticated fraud scheme, involving fake loan applications and illegal bond issuances, resulting in the misappropriation of billions from SCB.
The ensuing trial, which commenced on March 5, 2024, marked one of Southeast Asia’s largest corruption scandals. Lan, along with her husband, niece, granddaughter, and numerous co-defendants, faced a litany of charges related to embezzlement, bribery, and violating banking regulations.
On April 11, 2024, the verdict was delivered, sentencing Trương Mỹ Lan to death for her crimes. The ruling sent shockwaves throughout Vietnam’s business community.
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