Why was General Secretary Trong willing to ignore huge amount appropriated by Truong My Lan to save Le Minh Hung?

Former Governor of the State Bank of Vietnam, current Chief of Party Central Office Le Minh Hung

According to the assessment of the leadership of the Communist Party of Vietnam, Truong My Lan’s Van Thinh Phat case is an unprecedented case of corruption and manipulation, and has caused extremely serious consequences.

As a shareholder holding absolute shares, Truong My Lan manipulated and drained Saigon Commercial Joint Stock Bank (SCB) to more than VND100,000 trillion. This is a fraud of unprecedented scale in the ruling history of the Communist Party of Vietnam.

This case has left huge consequences for the Vietnamese economy and has extremely serious social impacts.

The Van Thinh Phat case also set a record for the amount of bribes paid to an individual, the largest in Vietnam’s litigation history, with allegations that SCB Bank gave bribery of $5.2 million to Do Thi Nhan, Head of the Government’s Interdisciplinary Inspection Team, because the State Bank of Vietnam plays a key role in the inspection of SCB Bank.

In addition, all of 18 members of this Inspection Team accepted bribes, with the highest amount being nearly $40,000 and the lowest amount of VND100 million. All of that bribe money was for the purpose of allowing the Inspection Team to cover up and not handle SCB Bank’s serious violations according to regulations.

A question is: Why did the violations of Van Thinh Phat Group and SCB Bank, all of which were held by Ms. Truong My Lan with a very large number of shares take place during for a long time, without being detected and handled promptly.

Public opinion feels that, when death row prisoner Duong Chi Dung testified in court in 2012 that he gave $1 million from Truong My Lan to Deputy Minister of Public Security Lieutenant General Pham Quy Ngo, the Ministry of Public Security must immediately investigate Van Thinh Phat.

Unfortunately, the Head of the Central Commission for Internal Affairs at that time, Mr. Nguyen Ba Thanh, later passed away due to a strange illness. And the incident also sank, not being mentioned.

Thoibao.de once affirmed that to find the final boss of the Van Thinh Phat case, one only needs to “retrieve” three former and current SBV’s Governors, namely: Nguyen Van Binh, Le Minh Hung and Nguyen Thi Hong. These are the people responsible for the Van Thinh Phat and SCB Bank case.

Among them, former Governor Le Minh Hung, current Chief of the Party Central Committee’s Office, must be the person most responsible. For these reasons:

  1. Le Minh Hung once worked at the General Intelligence Department (TC5) of the Ministry of Public Security, and was sent to the International Relations Department of the State Bank. Le Minh Hung became Governor of the State Bank in 2016, after the 12th National Congress, when Saigon Commercial Joint Stock Bank (SCB) was doing well.
  2. According to former Secretary of the Ben Tre Provincial Party Committee Le Duc Tho, who had total assets including money in banks and stocks up to VND4 trillion, was disciplined in the 8th Plenum of the 13th term, once said that he is not rich as Le Minh Hung.
  3. According to journalist Tran Dong A, in the article, “7th Plenum: Signs of the endgame” published on VOA, May 18, it was revealed:

After the domino toppling of Ho Mau Ngoat, the next counterattack before the 7th Plenum was a denunciation against Chief of the Party Central Committee’s Office Le Minh Hung, the second right-hand man of the General Secretary after Assistant Ho Mau Ngoat was fired. Hung’s crime in the application was named by the State Bank’s staff, showing the manipulation of interest groups “backed” by the General Secretary’s faction, which has the power to destroy the economy in general and the banking system., both inside and outside the state.”

  1. Le Minh Hung is the son of Le Minh Huong (1936-2004), former Minister of Public Security. According to knowledgeable people, it is revealed:

Le Minh Hung’s father passed away in 2004 (67 years old) while he was a Politburo member. Coincidentally, when the Central Government was pursuing Mr. Le Minh Huong’s responsibility in the Nam Cam case, Mr. Huong suddenly and unusually passed away. Even more coincidentally, Huong was also a native of Huong Son, Ha Tinh, the same hometown as Truong Tan Sang who was the state president for the 2011-2016 term.

At this point, the chess game has gradually become clear as to why Le Minh Hung was not prosecuted in the case involving SCB, Van Thinh Phat and Truong Muoi. There is a force from Ha Tinh’s compatriots behind, such as Truong Tan Sang and Truong Huy San, who are Trong’s subordinates, so no one dares to demand that Le Minh Hung be held accountable.

On social networks, there are many opinions that the Politburo stopped the investigation of the Van Thinh Phat case to a higher level, at the request of General Secretary Trong, with the purpose of saving Le Minh Hung – a red princeling trusted by Mr. Trong.

That is the reason why people believe that the Politburo and General Secretary Nguyen Phu Trong are willing to ignore the huge amount that was appropriated by Truong My Lan to save Le Minh Hung, because if it were to fall apart, then the whole band will die.

Again, the information just mentioned, Thoibao.de has not had the conditions to verify the details, but shares for readers to learn more.

Thoibao.de (Translated)