US EditionA Vietnamese property tycoon accused of embezzling $12.5 billion begins her trial
- A trial for a US$12 billion fraud case involving nearly 90 defendants began in Vietnam on Mar 5, with corruption remaining widespread in the country.
- Real estate tycoon Truong My Lan and her accomplices are accused of embezzling US$12.46 billion from Saigon Joint Stock Commercial Bank.
- Despite anti-corruption efforts, concerns persist about high levels of corruption in Vietnam, leading to slow public investment spending and cautious investors.
13 Articles
13 Articles
Vietnam’s biggest fraud trial gets underway
The chairwoman of property company Van Thinh Phat went on trial in Ho Chi Minh City Tuesday, accused of misappropriating more than US$12 billion in Vietnam’s biggest fraud case. Truong My Lan, 68, is accused of bribery, embezzlement and violating bank regulations in connection with a VND304 trillion loan from Saigon Commercial Bank, or SCB. Hundreds of police officers were called out to provide security at the trial, Vietnamese media reported. L…
Rechtszaak tegen frauderende vastgoedtycoon Vietnam van start, riskeert doodstraf
Today, a major trial has begun in Vietnam against real estate magnate Truong My Lan. The 66-year-old top woman of a large real estate company is suspected of embezzling 11.5 billion euros. If found guilty, she can be sentenced to death. Lan is said to have channeled money through thousands of shell companies. These are companies set up to bypass legal and regulatory requirements and hide illegal activities. Lan is also said to have paid bribes t…
Trial begins in Vietnam's largest, multi-billion-dollar fraud
HANOI: The trial in Vietnam's largest financial fraud case on record began on Tuesday, with nearly 90 defendants accused of being part of a $12 billion scam, for which some of them risk the death penalty.
Associated Press News
A Vietnamese property tycoon accused of embezzling $12.5 billion begins her trial
Real estate tycoon Truong My Lan faces the death penalty for allegedly embezzling $12.5 billion. Her arrest is part of Vietnam's anti-corruption campaign that started 2016 but gained momentum in
Channel News Asia
The Straits TimesTrial begins in Vietnam's largest, multi-billion-dollar financial scam
HANOI: The trial in Vietnam's largest financial fraud case on record begins on Tuesday (Mar 5), with nearly 90 defendants accused of being part of a US$12 billion scam, for which some of them risk the death pen
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