Vietnam Bank to Sell Mogul’s Property, Car to Offset Fraud Loss

The Vietnamese bank at the center of the fraud case involving disgraced tycoon Truong My Lan is preparing to auction a portfolio of her assets, including real estate, clothing and handbags, as part of an ongoing effort to claw back billions of dollars.

Saigon Commercial Bank is seeking to appoint a bidding advisory firm to arrange for the sale of assets tied to Lan, according to a statement on the bank’s website. It’s operating under the guidance of the State Bank of Vietnam after being appointed by the courts to handle the disposal of her assets, the statement said.