Vietnam banking and corporate fraud investigations

Vietnamese prosecutors have issued calls for several former executives to surrender to authorities following investigations into fraudulent activities involving major corporate and financial entities.

In one case, the Supreme People's Procuracy recommended the prosecution of former Bamboo Capital Chairman Nguyen Ho Nam and three other individuals. The investigation by the Ministry of Public Security concerns the “fraudulent appropriation of property” involving Bamboo Capital Group Joint Stock Company and related entities in Ho Chi Minh City and other locations.

In a separate investigation, authorities are seeking five former leaders of Saigon Commercial Bank (SCB) who are currently fugitives. These individuals, including former SCB Chairperson Nguyen Thi Thu Suong, are being sought in connection with a case involving BMC Company and related entities. Investigators have recommended the prosecution of 27 defendants for offenses including embezzlement, bribery, and violations of regulations on credit institution activities. This specific probe focuses on 19 credit contracts involving BMC Company with an outstanding debt exceeding 4,437 billion VND.