Van Thinh Phat chairwoman sentenced to death in Vietnam’s biggest fraud trial — Radio Free Asia
Release time：2024-05-22 02:41:35 Source：Cosmic Chronicle news portal
Truong My Lan, the chairwoman of Vietnamese developer Van Thinh Phat, has been sentenced to death for masterminding a multi-billion-dollar fraud, state-controlled media reported Thursday.
Judges at Ho Chi Minh City’s People’s Court said she was guilty of bribery, embezzlement and violating banking regulations.
Lan owned a 91.5% stake in Saigon Commercial Bank and, over the course of 10 years, ordered bank officials to approve more than 2,500 loans to shell companies she controlled, causing the bank to lose the equivalent of US$27 billion.
Lan ordered subordinates to bribe auditors at the State Bank of Vietnam to cover her tracks.
Head banking inspector Do Thi Nhan received $5.2 million in bribes, while deputy chief inspector Nguyen Van Hung received $300,000, state media said.
A family member told Reuters Lan planned to appeal the verdict.
Edited by Elaine Chan.
Related articles
- Britain's new bonkers EV: Callum Skye is an £80k electric buggy built in Warwickshire
- New York lawmakers pass $237 billion budget addressing housing construction and migrants
- My 'sinus infection' turned out to be a one in a million nasal cancer at just 28
- Konnor McClain, Haleigh Bryant help LSU women win first NCAA gymnastics title
- I was 'brokefished' by my friend for £400
- Brice Turang and Jackson Chourio hit back
- Cucho, Moreira score goals to help Crew play Timbers to 2
- Inside the WILD real
- UN Security Council rejects Russia
- Helen Maroulis becomes first US female wrestler to qualify for three Olympic teams
- 'Real life' Martha from Baby Reindeer's million
- Shirtless James Argent displays his incredible 14
- Hawaii lawmakers take aim at vacation rentals after Lahaina wildfire amplifies Maui housing crisis
- Crawford works 6 solid innings and the Red Sox deal the struggling Pirates a 5th straight loss
- Minnesota Equal Rights Amendment fails in acrimonious end to legislative session
- Residents of four Serb
- Alison Hammond, 49, and new Russian boyfriend David Putman, 26, look loved
- Ingenious ways to escape boring conversations without appearing rude
- Trump or Biden? Either way, US seems poised to preserve heavy tariffs on imports
- MacKinnon versus Hellebuyck highlight first
Random recommendation