Categories: Bribery in Business

Vietnamese tycoon loses death row appeal over world’s biggest bank fraud | BBC News



Vietnamese property tycoon Truong My Lan has lost her appeal against her death sentence for masterminding the world’s biggest bank fraud.

The 68-year-old is now in a race for her life because the law in Vietnam states that if she can pay back 75% of what she took, her sentence will be commuted to life imprisonment.

In April a trial found she had secretly controlled Saigon Commercial Bank and taken out loans and cash over more than 10 years through a web of shell companies, amounting to a total of $44bn (£34.5bn).

Of that prosecutors say $27bn was misappropriated, and $12bn was judged to have been embezzled, the most serious financial crime for which she was sentenced to death.

Subscribe here: http://bit.ly/1rbfUog

For more news, analysis and features visit: www.bbc.com/news

#Vietnam #BBCNews

source

Corruption Buzz

Share
Published by
Corruption Buzz

Recent Posts

H&F Cracks Down on Housing Fraud in the Borough – FulhamSW6

[ad_1] H&F Cracks Down on Housing Fraud in the Borough  FulhamSW6 [ad_2] Source link

4 weeks ago

Bribery, corruption: What you should know – Daily Express Malaysia

[ad_1] Bribery, corruption: What you should know  Daily Express Malaysia [ad_2] Source link

4 weeks ago

Public housing fraud: Organised crime or a scam? – news.sky.com

[ad_1] Public housing fraud: Organised crime or a scam?  news.sky.com [ad_2] Source link

4 weeks ago

Hong Kong man loses HK$13 million in fake crypto investment app scam – Crypto News

[ad_1] Hong Kong man loses HK$13 million in fake crypto investment app scam  Crypto News [ad_2]…

4 weeks ago

Regent’s Sahed shown arrested in money laundering case – Daily Observer

[ad_1] Regent’s Sahed shown arrested in money laundering case  Daily Observer [ad_2] Source link

4 weeks ago

Khadeer Khan Mohammed – Office of Inspector General (.gov)

[ad_1] Khadeer Khan Mohammed  Office of Inspector General (.gov) [ad_2] Source link

4 weeks ago