Posted on 11/26/2024 3:45:10 PM PST by nickcarraway
A Vietnamese property tycoon sentenced to death for multi-billion-dollar fraud begged a court to spare her life on Tuesday (Nov 26), saying she was trying to repay the stolen funds. Property developer Truong My Lan, 68, was convicted earlier this year of embezzling money from Saigon Commercial Bank (SCB) - which prosecutors said she controlled - and condemned to die for fraud totalling US$27 billion in one of the biggest corruption cases in history.
She is appealing against her sentence at a court in Ho Chi Minh City, with the ruling expected in the coming days. In her final remarks before the court, Lan said: "My only thought is on how to repay the debt to the SBV (State Bank of Vietnam) and the people. I don't think about the damage to myself and my family. "I feel pained due to the waste of national resources," Lan said, adding she felt "very embarrassed to be charged with this crime".
"Please reconsider and reduce my sentence," she asked the court. According to Vietnamese law, Lan could escape the death penalty if she proactively returns three-quarters of the embezzled assets and is judged to have co-operated sufficiently with authorities. But prosecutors argued on Monday that she had not met the conditions, and emphasised her crime's consequences were "huge and without precedent".
(Excerpt) Read more at channelnewsasia.com ...
All that Capitalism would irritate his Marxist soul but maybe he would understand that in the end Communism needed to ‘adapt’ to survive.
Of course, our government wants Communist Vietnam to be a counter to Communist China and that story will play out during the Trump Administration.
Wow. Women with and without makeup really are two different people.
“I’m doubtful any scheme done by one person could be that big.”
Especially any scheme that didn’t involve a son’s artwork and the country of Ukraine.
Not sure but I would imagine if someone were caught doing what she did here in the US they would at least get life in prison.
In October 2022, she was arrested for using fake loan applications to embezzle more than US$12.5 billion from Sai Gon Joint Stock Commercial Bank, which she controlled through more than two dozen middlemen. This caused a bank run.
In March 2024, the trial for embezzlement, bribery, and violating banking regulations began. It is considered the largest corruption scandal in Southeast Asia’s history.
So in a way, she got her goal to be a part of Vietnam's history.
And to be shot for her crimes gives her street cred.
Years later, she may featured in a FR thread; Executed Today.
His body was preserved and is in a Mausoleum in Hanoi. I visited there and the Hanoi Hilton in 2020.
Very interesting country.
“Ho Chi Minh wouldn’t recognize the place if he came back.”
Totally agree. There is more capitalism in that communist country than in the USA. Everyone runs a business to survive.
How in the world do you spend $27 billion?
“I didn’t know countries had the death penalty for fraud.”
Probably “Peoples Republics.” Only the government is allowed to embezzle that kind of money.
One of his goals/rules was to stop corruption of politicians. And another was fraud.
I just looked it up - the longest sentence was 42 years in prison from some guy in Singapore that embezzled $117 million from banks.
I wonder how many people killed themselves or drank themselves to death because they had lost their life savings or businesses due to this Vietnamese gal? I can see the death penalty.
She’s not so happy in the 3rd picture.
The cops’ lips sure are red .
George Soros net worth = around $7.5 billion
Jeff Bezos ex wife net worth = around $36 billion
Melinda Gates (Bill Gates' ex) = $11-$15 billion
CONCLUSION: Soros is amateur hour.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.