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Vietnam tycoon on death row for massive fraud illegally moved money overseas, police say

Vietnam tycoon on death row for massive fraud illegally moved money overseas, police say

VIETNAM real estate tycoon Truong My Lan, sentenced to death in the country's largest-ever financial fraud case, had illegally transferred money abroad, according to police, with state media reporting $4.5 billion had been moved. Police said late on Wednesday an investigation into those transfers and money laundering has been completed, but gave no further details. State media said on Thursday that Lan had illegally transferred $1.5 billion out of Vietnam and moved $3 billion into the country. The reports did not specify which countries were the recipients or origins of that money. A court in April sentenced Lan to death for her…
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Vietnam tycoon sentenced to death in $12.5 billion fraud case

Vietnam tycoon sentenced to death in $12.5 billion fraud case

A court in Vietnam handed the death sentence to real estate tycoon Truong My Lan for her role in a 304-trillion-dong ($12.5-billion) financial fraud, the country's biggest on record, state media said. Her trial, begun on March 5 and ending earlier than planned, was one dramatic result of a campaign against corruption that the leader of the ruling Communist Party, Nguyen Phu Trong, has pledged for years to stamp out. Lan, the chairwoman of real estate developer Van Thinh Phat Holdings Group, was found guilty of embezzlement, bribery and violations of banking rules at the end of a trial in the…
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Prosecutors seek death penalty for mastermind of Vietnam’s largest financial scam

Prosecutors seek death penalty for mastermind of Vietnam’s largest financial scam

VIETNAMESE prosecutors called for the death penalty to be handed to Truong My Lan, the mastermind of the Southeast Asian nation's largest financial fraud on record, state media said. Lan, the chairwoman of real estate developer Van Thinh Phat Holdings Group, faces a trial in the economic hub of Ho Chi Minh City on accusations of leading a scam that caused damages of $20 billion, or about 4.9% of Vietnam's gross domestic product. The trial, expected to run until the end of April, is part of a campaign against graft that the leader of the ruling Communist Party, Nguyen Phu…
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