One of the largest bank frauds in history has an entire nation transfixed.
The suspect is accused of embezzled $19 billion — and causing $41 billion in damages. That’s about six per cent of Vietnam ’s GDP in 2023.On Thursday as she and her co-accused await verdicts in one of the biggest corruption cases in history, with an estimated $41 billion in damages.
Lan allegedly embezzled $19 billion , but prosecutors said Thursday the total damages caused by the scam now amounted to $US27 billion.Most of the accused sat in the courtroom with their heads bowed Thursday, although Lan could be seen fidgeting and looking up from the front row. She and the others were arrested as part of a national corruption crackdown that has swept up numerous officials and members of Vietnam’s business elite in recent years.“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.
Lan, who is married to a wealthy Hong Kong businessman also on trial, is accused of setting up fake loan applications to withdraw money from SCB, in which she owned a 90 per cent stake.
National Corruption Crackdown Co-Accused Face Verdicts Central Bankers Vietnamese Property Tycoon State Bank Of Vietnam Properties Belonging Face Verdicts State Media Thi Nhan Agence France Presse Oceania Fraud Cases Vietnam Police Cars Tesla Owner Rages Fierce Business Environment Van Thinh Phat Eastern Asia Bank Frauds Top Vietnamese Luxury Death Sentence Australia And New Zealand Top Vietnamese Property Fake Loan Applications Front Row Ho Chi Minh Death Penalty Inspection Team Graft Cases Massive Bank Fraud Banking Law Luxury Property Tycoon Corruption Cases Asia Bank Fraud Vietnamese Luxury Property Denise Drysdale Corruption Crackdown Banking Sector Australia Billionaire Property Tycoon
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