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HANOI — A court in Vietnam on April 11 sentenced real estate tycoon Truong My Lan to death over her role in a 304 trillion dong (S$16.46 billion) financial fraud case, the country's biggest on record, state media reported.
You have got to hand it to Vietnam, which has somehow managed to produce a scandal that dwarfs the 1Malaysia Development Berhad (1MDB) debacle, widely referred to as the largest financial heist of all time.
HANOI - 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 on Thursday (June 6) reporting US$4.5 billion (S$6 billion) had been moved.
The financial crisis of 2008 showed just how much the world depends on banks being well run. Since then, regulators have been given new powers to keep some of the biggest institutions on a much shorter leash to stamp out risk, greed and corruption.
The real estate tycoon at the center of a US$12.46 billion fraud case has been sentenced to death, a penalty which appears to have appeased an outraged Vietnamese public but may not be enough to stem rising concerns about the health of the financial system.
The Vietnamese property tycoon Truong My Lan was sentenced to death on Thursday for her involvement in the country's biggest financial fraud case, state media outlet Thanh Nien reported.
Vietnamese real estate tycoon Truong My Lan was sentenced to death on Thursday after a court found her guilty of embezzlement, bribery and banking regulation violations in a fraud trial which saw her accused of plundering over US$12.5 billion from a bank using hundreds of ghost companies.
HANOI (Reuters) -- A court in Vietnam handed the death sentence on Thursday to real estate tycoon Truong My Lan for her role in a 304 trillion dong ($12.2 billion) financial fraud, the country's biggest on record, state media said.
HANOI, Vietnam (AP) — Real estate tycoon Truong My Lan was sentenced Thursday to death by a court in Ho Chi Minh city in southern Vietnam in the country’s largest financial fraud case ever, state media Thanh Nien said.