Truong My Lan Repays $455 Million to 42,000 Bondholders After Fraud Conviction
Updated
Updated · Bloomberg · May 21
Truong My Lan Repays $455 Million to 42,000 Bondholders After Fraud Conviction
1 articles · Updated · Bloomberg · May 21
$455 million — more than 12 trillion dong — has been repaid to about 42,000 bondholders in Vietnam’s biggest fraud case, according to Ho Chi Minh City’s Civil Judgment Enforcement Agency.
The payments stem from government efforts to claw back billions in illicit gains after real estate tycoon Truong My Lan was convicted.
Lan still owes bondholders about 18 trillion dong, and the government said further repayments are expected.
With billions still missing in Vietnam’s biggest fraud case, can new laws stop powerful debtors from hiding assets?
As Vietnam auctions a fraudster's assets, can its anti-graft campaign truly convince foreign investors the market is safe?