#Lan Truong

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Lan Truong

[dagonet]

Kaamelott, Livre III, Le Fléau de Dieu II

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Lan Truong, Woman and Flowers

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Lan Truong

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Lan Truong

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Ace of Swords. Art by Lan Truong.

[ilikedetectives]

Was gonna check out some new mods today, but then got distracted by the craziest embezzling case in Vietnam's financial history, this real estate tycoon (Trương Mỹ Lan) stole what is an equivalent of 10% of Vietnam's entire GDP???????? (x)

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Truong My Lan sentenced to death

[plethoraworldatlas]

As global billionaires see their wealth soar to record heights, one Vietnamese real estate tycoon was sentenced to death on Thursday in the Southeast Asian nation's largest-ever financial fraud case, part of a government crackdown on corruption.

Tru'o'ng Mỹ Lan, founder of the real estate developer Vạn Thịnh Phát Group, was arrested in October 2022 for illegally controlling and embezzling money from Saigon Commercial Bank (SCB) for a decade after a 2011 merger she arranged.

"Lan embezzled $12.5 billion, but prosecutors said Thursday the total damages caused by the scam now amounted to $27 billion—a figure equivalent to 6% of the country's 2023 [gross domestic product]," according toAgence France-Presse. "The court ordered Lan, 67, to pay almost the entire damages sum in compensation."

The BCCreported that "according to prosecutors, over a period of three years from February 2019, she ordered her driver to withdraw 108 trillion Vietnamese dong, more than $4 billion in cash from the bank, and store it in her basement. That much cash, even if all of it was in Vietnam's largest denomination banknotes, would weigh two tonnes."

AFP spoke with one of the 42,000 victims of the scandal identified by authorities:

Nga, a 67-year-old Hanoi resident... told AFP Thursday that she had hoped for a life sentence for Lan so she could live to fully witness the pain her actions had caused ordinary people. "Many people worked hard to deposit money into the bank, but now she's received the death sentence and that's it for her," said Nga, using a pseudonym to protect her identity. "She can't see the suffering of the people." Nga has so far been unable to retrieve the $120,000 she invested with SCB.

Human rights advocates consider Vietnam to be a global leader in death penalty sentences and executions, though data on the topic are considered state secrets, so precise figures are not known.

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Tia Hoa Lan

Born to theatre parents, Tia Hoa Lan often modeled costumes that would be painted onto the Water Puppets. When her village got besieged by bandits, she took up swordsmanship and magic to rise up to the occasion and defend her home.

Posted using PostyBirb

[dagonet]

Kaamelott, Livre III, Le Fléau de Dieu II

[head-post]

Vietnam tycoon Lan gets life sentence

A Vietnamese court on Thursday handed down a life sentence to real estate tycoon Truong My Lan on financial fraud charges, after she was sentenced to death in a separate trial in April, Vietnamese media reported.

Lan, chairwoman of the board of directors of property developer Van Thinh Phat Holdings Group, was found guilty of obtaining property by fraud, money laundering and illegal cross-border money transfers, state-run newspaper Tuoi Tre reported.

Lan is among senior businessmen and government officials jailed as part of a multi-year anti-corruption campaign known as “Blazing Furnace.” Her companies are accused of illegally raising more than VND30 trillion ($1.2 billion) by issuing bonds to investors, police said in a statement released ahead of the trial.

Lan is also accused of illegally transferring $4.5 billion into and out of Vietnam and laundering VND445 trillion ($18.1 billion), the statement said.

The judges said Lan admitted many of her crimes but denied allegations that she directed the bond issue, Tuoi Tre reported.

In April, a Vietnamese court sentenced Lan to death for her involvement in the fraud scheme, the biggest corruption case in the country’s history. Another 84 defendants in the case received sentences ranging from probation to life imprisonment.

Her arrest in 2022 caused a stir at one of the country’s largest private banks by deposits, Saigon Joint Stock Commercial Bank (SCB), which was at the centre of the fraud and largely owned by Lan through her proxies.

Read more HERE

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Lan Truong Moustache

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