Vietnamese billionaire sentenced to death for$44bn fraud

Vietnamese billionaire sentenced to death for $44bn fraud

.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
..

.
.
.
.
.
.
.
.
.
.
.
.
.
.

.
.
.
.
.
.
.
.
..
.
.
.
.
.
.
.
.
.
...
.

..
.
.
.
.
.
.
.
.
.
.
.

.
.
..
.

.
.
.
.

.

.

.

.

.

Truong My Lan: Vietnamese billionaire sentenced to death for $44bn fraud

It was the most spectacular trial ever held in Vietnam, befitting one of the greatest bank frauds the world has ever seen.

Behind the stately yellow portico of the colonial-era courthouse in Ho Chi Minh City, a 67-year-old Vietnamese property developer was sentenced to death on Thursday for looting one of the country's largest banks over a period of 11 years.

It's a rare verdict - she is one of very few women in Vietnam to be sentenced to death for a white collar crime.

The decision is a reflection of the dizzying scale of the fraud. Truong My Lan was convicted of taking out $44bn (£35bn) in loans from the Saigon Commercial Bank. The verdict requires her to return $27bn, a sum prosecutors said may never be recovered. Some believe the death penalty is the court's way of trying to encourage her to return some of the missing billions.

The habitually secretive communist authorities were uncharacteristically forthright about this case, going into minute detail for the media. They said 2,700 people were summoned to testify, while 10 state prosecutors and around 200 lawyers were involved.

The evidence was in 104 boxes weighing a total of six tonnes. Eighty-five others were tried with Truong My Lan, who denied the charges.

All of the defendants were found guilty. Four received life in jail for embezzlement. The rest were given prison terms ranging from 20 years to three years suspended. Truong My Lan's husband and niece received jail terms of nine and 17 years respectively.

"There has never been a show trial like this, I think, in the communist era," says David Brown, a retired US state department official with long experience in Vietnam. "There has certainly been nothing on this scale."

The trial was the most dramatic chapter so far in the "Blazing Furnaces" anti-corruption campaign led by the Communist Party Secretary-General, Nguyen Phu Trong.

A conservative ideologue steeped in Marxist theory, Nguyen Phu Trong believes that popular anger over untamed corruption poses an existential threat to the Communist Party's monopoly on power. He began the campaign in earnest in 2016 after out-manoeuvring the then pro-business prime minister to retain the top job in the party.

.

***Fair Use Disclaimer: =
This channel may use some copyrighted materials without specific authorization of the owner but contents used here falls under the “Fair Use” as described in The Copyright Act 2000 Law No. 28 of the year 2000 of Bangladesh under Chapter 6, Section 36 and Chapter 13 Section 72. According to that law allowance is made for "fair use" for purposes such as criticism, comment, news reporting, teaching, scholarship, and research. Fair use is a use permitted by copyright statute that might otherwise be infringing. Non-profit, educational or personal use tips the balance in favor of fair use.

"Copyright Disclaimer Under Section 107 of the Copyright Act 1976, allowance is made for fair use for purposes such as criticism, comment, news reporting, teaching, scholarship, and research. Fair use is a use permitted by copyright statute that might otherwise be infringing. Non-profit, educational or personal use tips the balance in favor of fair use."

CNN
BBC
Al zajeera
World news
News
Asia news
Middle east news
Amirica news
Africa news
Russia News
Reuters
News Bangla
Hindus Time
India News
Bangladesh News
Europe news
Australia news

bangla news | bangla news today | bangla news live | news bangla | republic bangla news | bd news | latest bangla news | bangla latest news | bengali news | bangla news 24 | atn bangla news | bd news bangla | news bangla 24 | bangla tv news | bangla news update | bangladesh news | bangla khobor | live news bangla | bangla news republic bangla | today news bangla | republic bangla bengali news live | bangladeshi news | bangladesh news | somoy tv news | bangla news today | latest bangla news | bangla news live | latest bangladeshi news | bangladesh tv news | latest somoy tv news | latest bangladesh news | republic bangla news | bangla tv news | somoy tv | somoy news | bangla tv channel | bd news | news bangla | bangladesh | latest news | bangladesh news today | breaking news | news | bangla news update | news today bangladesh jamuna tv live | latest somoy news | news today
.
.
.
.

.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
Russia

Ukraine
Russia ukraine
Russia ukraine war
russia ukraine war news
ukraine russia war news
War news
ukraine russia latest war news l
israel gaza news
gaza israel news
Middle east news
palistine israel news
israel gaza war news
gaza israel war news
palistine israel war news
israel palistine war news
Natural crasis
.