Property billionaire sentenced to death for swindling nearly 3% of Vietnam’s GDP in one of the biggest...

Truong My Lan, the boss property developer Van Thinh Phat, was accused of swindling cash from Saigon Commercial Bank over more than a decade.The total sum amounted to $12.5bn, nearly 3% of the country’s GDP in 2022.She illegally controlled the Saigon Joint Stock Commercial Bank between 2012 and 2022 and siphoned off vast sums of money through thousands of ghost companies, and by paying bribes to government officials.

in final remarks to the court last week she said that she had thoughts of suicide: “In my desperation, I thought of death,” she said, according to state media.“I am so angry that I was stupid enough to get involved in this very fierce business environment - the banking sector - which I have little knowledge of.”She was sentenced to death on Thursday for plundering the coffers of one of the country's largest banks over a period of 11 years.

Property Property Latest News, Property Property Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Vietnam: Property tycoon Truong My Lan sentenced to death after country's biggest fraud trialA property tycoon has been sentenced to death in Vietnam after the biggest fraud trial in the country's history.
Source: SkyNews - 🏆 35. / 67 Read more »

Woman Found Stabbed to Death in Central London PropertyA murder investigation is underway after a woman was found stabbed to death at a property near Hyde Park. The victim had multiple knife wounds and was discovered by police who were called by her concerned friends. No arrests have been made yet.
Source: LBC - 🏆 17. / 74 Read more »