Why This Billionaire Businesswoman Received the Death Sentence in Vietnam
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Published 2024-04-12
It is extremely rare to see someone receive the death penalty for a white collar crime in Vietnam. But the extent of Truong My Lan’s financial scam was astounding, inflicting damages worth $20 billion, almost 5% of Vietnam’s GDP.
A court in Ho Chi Minh City ruled that Lan illegally controlled Saigon Joint Stock Commercial Bank (SCB) between 2012 and 2022. She siphoned funds from the bank through unlawful loans to shell companies, bribing officials to ignore her activities. 85 defendants were tried alongside Lan in one of the biggest public ‘show trials’ to be held during the Communist era.
The 67-year old started as a market stall vendor but began buying properties after Vietnam’s economic reform, Dow Moi, in 1986. By 2011, Lan rose to become a well-known business woman in Ho Chi Minh City.
She later organised a merger of three small banks into what is now one of the largest joint stock commercial banks in Vietnam: SCB.
If the sentence is carried out, Truong My Lan will be killed by lethal injection. Lan’s lawyers now have 15 days to appeal the court ruling.
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All Comments (11)
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Wow. Corruption being punished!? Don’t think I’ve ever seen that in my lifetime.
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THEY NEED TO IMPLEMENT THESE TYPE OF LAWS IN AMERICA!
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I bet the Vietnamese super rich will think long and hard before engaging in that level of corruption again. I know another country that needs such laws...
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Breathtaking
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She must very smart woman yet have to exit this.
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👏🏽
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រស់នៅជាមួយរបបកុម្មុយនិស្តមិនប្រយ័ត្នគេទាញក្បាលយើងយកទៅប្រើពេលណាយើងដើរប្លន់គេបានច្រើនយើងមិនស្កប់ស្កល់ដល់វេនពួកគេប្លន់យកជីវិតយើងម្ដងដើម្បីបំបិទភស្តុតាង។ 😂
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YOU TUBE! Let's do this again! Even though the communist regime of Vietnam is criminal itself, the woman found of the crime, is still a criminal. Who is deserving of a severe punishment. However, for a woman who has lived such a lavish life style, I believe that the best punishment would be life in prison at hard labor; without parole. YOU TUBE. IS THIS STATEMENT TOO INFLAMMATORY?!🤔🤨🧐
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O
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But communism is soooooo gawd!!!!!
