Van Thinh Phat chairwoman sentenced to death in Vietnam’s biggest fraud trial — Radio Free Asia
Release time：2024-05-22 10:39:36 Source：Cultural Caravan 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.
- Previous：Trump says he is open to restrictions on contraception before backing away from the statement
- Next：Clark signs deal with Wilson Sporting Goods for signature line
Related articles
- US Open champ Coco Gauff urges young Americans to vote
- Inside 'the best premium economy cabin in the WORLD': The Mail tests out EVA Air's award
- Revealed: The best 100 cities in the world for exploring by foot, with Rome No.1, London ninth
- Revealed: The 20 best walks in Britain (and the maps that show you the perfect route)
- Trump says he is open to restrictions on contraception before backing away from the statement
- Globetrotting couple share stunning photos from visits to 75 countries
- Will the Budget cut taxes
- Dividend hero SAINT's manager on the best shares for income and growth
- Tigers starter Olson leaves game against Royals after being struck by line drive
- Will the high
- Midwest storms: Large hail, torrential rain and tornadoes and more is coming
- The perfect introduction to Wainwright's Lake District world
- Forget guidebooks
- Video tour of Gatwick's futuristic electric vehicle charging station
- Victims of UK's infected blood scandal to receive final compensation payments
- I'm a solo British traveller
- Humiliation for Saudi Arabia as it's 'forced to scale back $1.5trillion plans for 106
- Forget guidebooks
- Scheffler back to work at Colonial and Stricker returns to Senior PGA in Michigan
- Is taking a Nile river cruise in Egypt worth it? I filmed my five
Random recommendation