#SCB was the 5th biggest bank in VN btw

[turtle-ly]

@loftwingsuarus well since you are curious heres the deets: Trương Mỹ Lan was the chairwoman of a real estate developer (Vạn Thịnh Phát Group). Back in 2012 she merged 2 private banks into the big bank, SCB, then slowly made up over One Thousand (1000) ghost companies to apply for loans from SCB, in which she indirectly held 91,5% stake, so the process was easy(?) than you think(?). She used that money to buy real estate and stuffs idk.

Between 2012 and 2022, SCB gave Lan over 2,500 loans worth over VNĐ1 quadrillion, or 93 per cent of its loans. As of October 2022, Lan and her company Vạn Thịnh Phát Group still had nearly 1,300 outstanding loans of VNĐ677 trillion ($27 billion) in principal and interest. and yes, those 10 years was equivalent to over 10 per cent of Việt Nam’s GDP in 2022. To cover that hugeass thing up she bribed hundreds(?) of gov auditors and inspectors, the number of those officially sentenced was 85 though. (x)

Funny thing about this though was the meme vietnamese ppl made up about where that 677 trillion went. some guy on facebook joked that she hid them in the sea, One Piece style, and the meme about "lets go on a sea adventure to find that cash!" circulated on vnese facebook for at least 2 weeks before her lawyer threatened to sue whoever made that joke lmao

thank you tuoi tre news this is the funniest way you can post this