Van Thinh Phat chairwoman sentenced to death in Vietnam’s biggest fraud trial — Radio Free Asia
Time:2024-05-21 10:40:18 Source:styleViews(143)
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:Storms damage homes in Oklahoma and Kansas. But in Houston, most power is restored
Next:Why US Catholics are planning pilgrimages in communities across the nation
You may also like
- Hall of Fame outfielder Ken Griffey Jr. to lead Indianapolis 500 field in Corvette pace car
- Hairy Biker Dave Myers 'left £1.4million windfall for his wife Liliana'
- When can doctors provide emergency abortions in states with strict bans? Supreme Court to weigh in
- Comedian Elayne Boosler says she was arrested at a Los Angeles Dodgers game because of a 'power
- 'Constantly learning' Imanaga off to impressive start with the Chicago Cubs
- Paris Hilton reveals her daughter London, 5 months, resembles her sister Nicky Hilton
- Indonesia declares Prabowo Subianto president
- Ukrainian officials thank the US for its latest military aid to help stop Russia's onslaught
- Storms damage homes in Oklahoma and Kansas. But in Houston, most power is restored