A apical Vietnamese spot tycoon faces a imaginable decease condemnation contiguous arsenic she and her co-accused await verdicts successful 1 of the biggest corruption cases successful history, with an estimated $27 cardinal successful damages.
Truong My Lan, seat of large developer Van Thinh Phat, is accused of swindling currency from Saigon Commercial Bank (SCB) implicit a decade.
More than a twelve constabulary cars and vans carrying the defendants - a database that includes erstwhile cardinal bankers, ex-government officials and erstwhile SCB executives - arrived astatine the colonial-era courthouse successful the aboriginal morning.
After a five-week proceedings successful Ho Chi Minh City, Lan and 85 others look verdicts and sentencing connected charges ranging from bribery and maltreatment of powerfulness to appropriation and violations of banking law.
Lan allegedly embezzled $12.5 billion, but prosecutors said Thursday the full damages caused by the scam present amounted to $27 cardinal - a fig equivalent to six percent of the country's 2023 GDP. The 67-year-old has denied the charges and blamed her subordinates.
Truong My Lan (C), chairwoman of Van Thinh Phat Holdings, sits during her proceedings astatine the Ho Chi Minh City People's Court
Lan allegedly embezzled $12.5 billion, but prosecutors said Thursday the full damages caused by the scam present amounted to $27 billion
After a five-week proceedings successful concern hub Ho Chi Minh City, Lan and 85 others look verdicts and sentencing
The businesswoman is accused of swindling currency from Saigon Commercial Bank (SCB) implicit a decade
Prosecutors person called for Lan to look the decease sentence, an unusually terrible punishment successful specified a case
Most of the accused sat successful the courtroom with their heads bowed Thursday, though Lan could beryllium seen fidgeting and looking up from the beforehand row.
Prosecutors person called for Lan to look the decease sentence, an unusually terrible punishment successful specified a case.
She and the others were arrested arsenic portion of a nationalist corruption crackdown that has swept up galore officials and members of Vietnam's concern elite successful caller years.
Lan appeared to accidental successful last remarks to the tribunal past week that she had thoughts of suicide.
'In my desperation, I thought of death,' she said, according to authorities media.
'I americium truthful aggravated that I was anserine capable to get progressive successful this precise fierce concern situation - the banking assemblage - which I person small cognition of.'
Hundreds of radical began to signifier protests successful the superior Hanoi and Ho Chi Minh City, a comparatively uncommon occurrence successful the one-party communist state, aft Lan's apprehension successful October 2022.
Police person identified astir 42,000 victims of the scandal, which has shocked the Southeast Asian country.
Do Thi Nhan, the erstwhile caput of the State Bank of Vietnam's inspection team, told the tribunal she had been offered a bribe
Lan denied the charges and blamed her subordinates. Pictured: Some of the defendants astatine the trial
The existent property tycoon whitethorn look the decease punishment if convicted of allegations that she siphoned disconnected an magnitude of $12.5 billion
Lan, who is joined to a affluent Hong Kong businessman besides connected trial, is accused of mounting up fake indebtedness applications to retreat wealth from SCB, successful which she owned a 90 percent stake.
Police accidental the scam's victims are each SCB bondholders who cannot retreat their wealth and person not received involvement oregon main payments since Lan's arrest.
Prosecutors said during the proceedings they had seized much than 1,000 properties belonging to Lan.
Authorities person besides said $5.2 cardinal allegedly fixed by Lan and immoderate SCB bankers to authorities officials to conceal the bank's violations and mediocre fiscal concern was the largest-ever bribe recorded successful Vietnam.
The pistillate who was offered the bribe - Do Thi Nhan, the erstwhile caput of the State Bank of Vietnam's inspection squad - said during the proceedings the currency was handed to her successful Styrofoam boxes by the erstwhile CEO of SCB, Vo Tan Van.
A apical Vietnamese luxury spot tycoon - Do Anh Dung, caput of the Tan Hoang Minh radical - was sentenced to 8 years successful situation past month
After realising they contained money, Nhan refused the boxes but Van declined to instrumentality them back, authorities media reported.
More than 4,400 radical person been indicted during Vietnam's corruption crackdown, crossed much than 1,700 graft cases, since 2021.
A apical Vietnamese luxury spot tycoon - Do Anh Dung, caput of the Tan Hoang Minh radical - was sentenced to 8 years successful situation past period aft helium was recovered blameworthy of cheating thousands of investors successful a $355 cardinal enslaved scam.
English (US) ·