Vietnamese Chairwoman involved in a $12bn real estate scam.

Vietnam's largest-ever financial fraud involved Van Thinh Phat Holdings Group Chairwoman Truong My Lan, who was sentenced to death after a month-long trial. Lan and dozens of others were found guilty of a real estate scam that siphoned over $12bn from large private lender Saigon Joint Stock Commercial Bank through loans to shell companies. The total value of the assets linked to the real estate group and its affiliates is estimated at between $12bn and $48bn.

April 11, 2024
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