A businesswoman is sentenced to dying for one of many largest corruption instances in Vietnam | EUROtoday

The businesswoman Truong My Lan, accused of appropriating some 12.5 billion {dollars} in financial institution deposits in one of many largest corruption instances in Vietnam, was sentenced to the dying penalty this Thursday.

Judges on the Ho Chin Minn court docket have sentenced the 68-year-old defendant after discovering her responsible of bribery, violating banking laws and misappropriation on this fraud dedicated via a legal community over 10 years, in keeping with reviews. the VN Express medium.

According to the investigation, Lan used entrance males and workers to take over 91% of Saign Commercial Bank (SCB) after which diverted massive sums of cash with some 2,500 loans to shell firms between 2012 and 2022.

That of SCB, the most important financial institution in belongings within the nation, is likely one of the largest frauds within the nation and in Asia, for the reason that 12.5 billion {dollars} (about 11.5 billion euros) diverted symbolize 3 p.c of Vietnamese GDP in 2022 and triple the fortune of the richest Vietnamese, Pham Nhat Vuong.

The Prosecutor maintains that Lan, detained in 2022, He didn’t maintain any place within the financial institution and he solely owned 4 p.c of the shares, however managed as much as 91 p.c of the shares via folks he trusted who adopted his directions.

This case of fraud happens inside the framework of the intensification of the anti-corruption marketing campaign launched lately by the Vietnamese authorities and which has affected senior political and enterprise officers.