Tri, who is on trial for asset misappropriation, took about 1 trillion VND from Lan in three business transactions, according to the prosecution.
The chairman of real estate developer Capella proposed in 2018 to sell 30% of the capital of another of his companies, Rubber Corporation, based in the southern province of Dong Nai. He even promised to eventually give him 65% of the capital.
Lan paid $6 million up front and another VND500 billion ($23 million) later, but Tri never transferred the shares he promised her.
In 2019, Tri urged it to invest in an industrial park in the northern province of Quang Ninh.
Tri borrowed $12.5 million from Lan, and the two men agreed that this money would constitute Lan’s investment in the park once it was operational.
But her development was delayed and Lan demanded her money, but Tri didn’t oblige her.
In 2020, he borrowed another VND300 billion from him to invest in the Sai Gon Dai Ninh tourism company, and promised to repay him VND500 billion once he sold his stakes to investors, but he still has a times is lacking.
By then, Lan had lost trust in Tri, she told the court. She met him and they agreed that he owed her 1 trillion VND.
After both were arrested last year, Tri initially told police that he never got money from Lan and that he had been defamed by her.
But he later admitted to taking the money and paid it back in full.
Tri successfully requested court permission not to attend trial due to a serious spinal injury.
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Nguyen Cao Tri, president of Capella, seen at the People’s Court in Ho Chi Minh City. Photo by VnExpress/Thanhh Tung |
So far, 79 of the 86 defendants tried for the Saigon Commercial Bank fraud have admitted wrongdoing.
SCB and Van Thinh Phat executives said Lan ordered them to help him embezzle money from the bank, and State Bank of Vietnam inspectors said they received similar orders from their bosses.
Lan faces charges of corruption, violating banking regulations and embezzlement.
Between 2012 and 2022, SCB provided it with 2,500 loans worth more than VND1 quadrillion ($44 billion), equivalent to 93% of its entire loan portfolio.
In total, she is accused of causing losses of 498,000 billion VND to the lender.
The other 85 people are on trial for embezzlement, corruption, abuse of power in the exercise of official functions, lack of accountability leading to serious consequences and violation of banking regulations.
