Highlights
- Truong My Lan is an immensely famous Vietnamese businesswoman. She is a Chinese descendant and has recently been convicted of a 12.5 billion dollar fraud.
- Her scam is the biggest financial fraud in Vietnam and she has been charged with a death sentence on the 11th of April 2024.
- Truong My Lan Net Worth has been billions of dollars. But the exact figure is still not known.
- Some reports claimed that Lan’s family owned assets worth 30 billion dollars. Because of her fraudulent activities, her assets and income are likely to be seized by the Vietnamese government.
- Truong’s family has been one of the richest ones in Vietnam. Her act of embezzlement worth 12.5 billion dollars is almost equal to 3% of Vietnam’s aggregate GDP for the year 2022.
Early life
Truong My Lan was born on the 13th of October 1956 and her place of birth is Saigon, South Vietnam. This mastermind entrepreneur is of Shantou Guangdong heritage. The current age of Truong is 67 years.
Personal Life
Truong is married to Eric Chu Nap Kee and the name of her child is Chu Duyet Phan.
Her husband Eric is a businessman and he is associated with the real estate sector in Hong Kong.
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Have a Look at the Wikipedia Data of Truong My Lan
| Full Name | Truong My Lan |
| Alternate Name | Truong Muoi |
| Date of Birth | 13th of October 1956 |
| Place of Birth | Saigon, South Vietnam |
| Age | 67 years |
| Nationality | Vietnamese |
| Profession | Real Estate Tycoon |
| Marital Status | Married |
| Spouse | Eric Chu Nap Kee |
| Children | Chu Duyet Phan |
Career and Success
Truong initially had a hair accessories business in Ho Chi Minh City. With her government connections, she entered the real estate world.
In 1992, Truong founded a real estate development group by the name Van Thinh Phat Group. She was the founder and chairperson of this group. This real estate firm dealt in residential premises, shopping centers, hotels, and offices. The company soon started providing financial services as well.
From the years 2012 to 2022, Truong had a controlling power over SCB. Eventually, it was seen that more than 93 percent of the loans were diverted to her main company and other shell companies.
In 2022 October, Truong was arrested by the Vietnamese authorities for using fake loan applications. The purpose was embezzlement and it involved more than 12.5 billion US dollars in transactions with the famous Sai Gon Joint Stock Commercial Bank (SCB). In this activity, more than two dozen middlemen were involved along with Truong. The entire incident led to a bank run.
Truong has been convicted of embezzlement charges and is currently facing the death penalty. She has been involved in a series of financial crimes from 2018-2022. These are the biggest financial frauds in the history of Vietnam and the amount is estimated to be more than 12.5 billion dollars.
Truong My Lan Net Worth exact figure is not known. The reason is that as of now, everything is under the scrutiny of the government.
Interesting facts
Truong My Lan is also known by the name Truong Muoi.
Recently, in March 2024, Truong faced a trial for bribery, embezzlement, and serious violations of the banking regulation system. She has been convicted for the largest corruption scandal that can be seen in the entire history of Southeast Asia.
After years of investigation, Truong was arrested on the 6th of October 2022, and on the 11th of April 2024, she faced a death sentence. In 2024 March, Truong’s husband and her niece were also summoned for trial.
Her niece, whose name is Truong Hue Van, is the CEO of a Property Management Firm and she has lived with Truong since childhood. She admitted in front of the Vietnamese authorities about establishing 52 shell companies and 4 regular companies to obtain the loan amount from SCB. She has been sentenced to an imprisonment of 17 years for aiding the activities of her aunt. Truong’s husband has also been jailed for a term of 9 years.
In the entire trial, more than 84 defendants appeared. All of them have faced serious legal charges.
Truong My Lan Net Worth: Have a Look
Truong My Lan Net Worth has been pretty gigantic in the past. However, the exact figure is not known as of now. The reason is that she has been convicted for the embezzlement case and is facing a death sentence. Her assets and income streams are likely to be seized by the Vietnamese government.
Conclusion
Truong My Lan has emerged as the most controversial figure in the history of Southeast Asia. She has done a mammoth fraud of more than 12.5 billion US dollars. Truong used the banking system for personal gains and controlled it illegally from 2012 to 2022. She created several ghost companies on a domestic and international level. Talking about Truong My Lan Net Worth, there is no exact data. Her family was one of the most affluent ones in Vietnam. However, after the fraud, the assets and income sources are likely to be under the control of government authorities. This real estate tycoon chose a twisted path and was certainly in a massive hurry to make big money which eventually led to her downfall.
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