Bond victims from worst Vietnam fraud set to receive repayment

Bondholders who were deceived into purchasing bonds through private bank SCB gather in front of Vietnam's Ministry of Finance office in Hanoi at the end of 2023 to demand a resolution to the scandal. - VNS/ANN

HO CHI MINH CITY: HCM City authorities have announced a compensation plan for tens of thousands of bondholders who were misled into purchasing bonds through a private lender in a case considered Vietnam’s worst financial fraud.

The HCM City Department of Civil Judgment Enforcement has provisionally seized over VND8 trillion (US$315 million) earmarked for compensating the victims of the Van Thinh Phat-SCB (Saigon Commercial Bank) scandal.