Trương Mỹ Lan facts for kids

Trương Mỹ Lan (born 13 October 1956) is a businesswoman from Vietnam. She started a big real estate company called Vạn Thịnh Phát Group. She was a main person in a very large financial problem in Vietnam. For her actions, she received a serious penalty in April 2024.

In October 2022, she was arrested. This was because she was accused of using fake loan requests. These requests were to take more than US$12.5 billion from Sai Gon Joint Stock Commercial Bank (SCB). She controlled this bank through many people working for her. This situation caused many people to rush to the bank to take out their money.

In March 2024, a trial began for her. The charges included misusing money, giving gifts for favors, and breaking banking rules. This event is seen as the biggest financial problem of its kind in Southeast Asia's history.

Early Life

Trương Mỹ Lan was born on 13 October 1956. Her birthplace was Saigon, which is now called Ho Chi Minh City, in South Vietnam.

Her family comes from a group of people called Teochew. They were originally from a village in China. Her family settled in a part of Ho Chi Minh City. Her uncle started a shipping business there.

Building a Business

Lan first owned a business that sold hair accessories in Ho Chi Minh City. She used her connections to the government to start working in real estate. In 1992, she founded Vạn Thịnh Phát Group. This company built fancy homes, offices, hotels, and shopping centers. It also offered financial services.

From 2012 to 2022, Trương Mỹ Lan had control over Sai Gon Joint Stock Commercial Bank (SCB). This was one of the biggest banks in Ho Chi Minh City. SCB was formed in 2012 when three banks that were having money problems merged. The government allowed these banks to merge. Trương Mỹ Lan kept control of SCB through many people who worked for her. About 93 percent of the loans from this bank went to her company and other companies she secretly controlled.

Family and Wealth

Trương Mỹ Lan is married to Eric Chu Nap Kee. He is a businessman from Hong Kong who also works in real estate. In March 2024, her husband was also called to the trial. Her niece, Trương Huệ Vân, who is 34, was also called. She is the CEO of a company that manages properties.

Lan's family is known as one of the richest families in Vietnam. They have used some of their money to help with projects in their family's old hometown in China. The amount of money Trương Mỹ Lan was accused of misusing, $12.5 billion, is about three percent of Vietnam's total economy for 2022.

In March 2024, her niece said that she had set up many companies. These companies were used to get 155 loans from SCB.

See also

• People involved in financial problems
• Financial issues in Vietnam