Current Events > Vietnamese woman sentenced to death for $44 billion bank fraud

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[deleted]
04/20/24 3:02:56 PM
#3:


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LeoRavus
04/20/24 5:30:55 PM
#1:


Vietnamese law prohibits any individual from holding more than 5% of the shares in any bank. But prosecutors say that through hundreds of shell companies and people acting as her proxies, Truong My Lan actually owned more than 90% of Saigon Commercial.

They accused her of using that power to appoint her own people as managers, and then ordering them to approve hundreds of loans to the network of shell companies she controlled.

The amounts taken out are staggering. Her loans made up 93% of all the bank's lending...

https://www.bbc.com/news/world-asia-68778636

https://gamefaqs.gamespot.com/a/forum/d/df1e8f00.jpg

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Crimsoness
04/20/24 5:31:38 PM
#2:


We should start punishing white collar crimes like this in the US

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DarkAssassin89
04/20/24 5:33:00 PM
#4:


Fair. Next.

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PowerMan5000000
04/20/24 5:34:06 PM
#5:


Maybe she wanted to imitate Breaking Bad and sleep on a pile of money

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UnfairRepresent
04/20/24 5:36:09 PM
#6:


Wouldn't that make her literally the richest woman in the world?

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LeoRavus
04/20/24 5:39:44 PM
#7:


UnfairRepresent posted...
Wouldn't that make her literally the richest woman in the world?

Sounds like most of the money was tied up in her shell companies.

This is what greed gets you. She went from a street vendor to a real estate tycoon legally. But that wasn't enough.

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CADE_FOSTER
04/20/24 5:40:34 PM
#8:


LeoRavus posted...
Sounds like most of the money was tied up in her shell companies.

This is what greed gets you. She went from a street vendor to a real estate tycoon legally. But that wasn't enough.
When is it ever enough here aswell they all want more money always
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Thermador446
04/20/24 5:45:33 PM
#9:


She looks like her face will fall apart anyway without constant plastic surgery.

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Umbreon
04/20/24 5:52:55 PM
#10:


I'm not comfortable with the idea of someone being executed over money, but I also can't help but wonder how such laws would go over here.

I'm guessing the argument for a death penalty is "You can't bribe death itself".

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ClayGuida
04/20/24 5:54:26 PM
#11:


Does Trump operate in Vietnam?

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CommonStar
04/20/24 5:55:16 PM
#12:


She could just get life sentence if she returned most of the money back, but she isn't so they are sentencing her to death.
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LouisCyphre6
04/20/24 5:55:23 PM
#13:


Umbreon posted...
I'm not comfortable with the idea of someone being executed over money, but I also can't help but wonder how such laws would go over here.

I'm guessing the argument for a death penalty is "You can't bribe death itself".
Yeah, going for the death penalty feels a bit too extreme for me, I think having it taken away and getting fined to shit would probably be more appropriate.

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ForsakenHermit
04/20/24 5:57:30 PM
#14:


Umbreon posted...
I'm not comfortable with the idea of someone being executed over money, but I also can't help but wonder how such laws would go over here.

I'm guessing the argument for a death penalty is "You can't bribe death itself".
Vietnam is still de jure Marxist Leninist and though they have more or less embraced capitalism, the influence of Marxist-Leninist thought isn't as far gone as people think. Embezzlement on that level is still a crime against the people and punishable by death.

China is the same way, presumably Laos is as well.

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archizzy
04/20/24 5:58:02 PM
#15:


The scope of that trial, the amount of material evidence, the people involved, wow. Off the charts. Crazy.

Should was probably already really well off in that country with what she had just being a successful property developer then she had to go crazy greedy. 44 billion? Damn.

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CommonStar
04/20/24 5:59:38 PM
#16:


LouisCyphre6 posted...
Yeah, going for the death penalty feels a bit too extreme for me, I think having it taken away and getting fined to shit would probably be more appropriate.
42,000 identified victims and counting...
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LeoRavus
04/20/24 6:25:51 PM
#17:


CommonStar posted...
She could just get life sentence if she returned most of the money back, but she isn't so they are sentencing her to death.

It read to me like she had to return most of the money and still be sentenced to death.

The verdict requires her to return $27bn, a sum prosecutors said may never be recovered. Some believe the death penalty is the court's way of trying to encourage her to return some of the missing billions.

Articles are all over the place with the amount she took/owes.

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StarSpangled
04/20/24 7:00:03 PM
#18:


I remember seeing this a few days ago. Thats a crazy amount. That is 1/8th of Vietnams entire GDP.

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ScazarMeltex
04/20/24 7:07:08 PM
#19:


Crimsoness posted...
We should start punishing white collar crimes like this in the US


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#20
Post #20 was unavailable or deleted.
Bugmeat
04/20/24 7:19:13 PM
#21:


LouisCyphre6 posted...
Yeah, going for the death penalty feels a bit too extreme for me, I think having it taken away and getting fined to shit would probably be more appropriate.

Does it though? These things are so much more than a simple money crime. So many lives are destroyed by this level of theft. Fraud on that scale ruins so many more lives than a guy who murders a few people. For example, how many elderly folks have had their retirement accounts plundered by this sort of fraud? Retirement accounts that they spent their lives building. The money they were counting on to survive their end game. It's the ordinary folks that suffer in the end. Only an evil person would do this. That deserves a death sentence.


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Trumpo
04/20/24 7:34:29 PM
#22:


The bankers and fund mangers responsible for the 2008 recession should have been sentenced like this woman.

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CADE_FOSTER
04/20/24 8:22:23 PM
#23:


Trumpo posted...
The bankers and fund mangers responsible for the 2008 recession should have been sentenced like this woman.
they put one guy in jail for like months after all was said and done and they still do it
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Kradek
04/20/24 8:25:16 PM
#24:


CADE_FOSTER posted...
they put one guy in jail for like months after all was said and done and they still do it

Well yeah, months in prison is no big deal compared to millions/billions of dollars and a lavish lifestyle.

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Jaguar34
04/20/24 8:42:36 PM
#25:


Honestly after reading it sounds like she's a scapegoat that who's death strengthens the Communist control of the country?

Hard to have Communist control of a country with rich people gallivanting around doing what they please. With the leader being old and on his way out this seems to be posturing by the government appearing to appeal to the Vietnamese proletariat and show their strength.
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Glob
04/20/24 8:46:42 PM
#26:


Its definitely making an example of her. What shes done is really common here, and loads of people are still doing it. Of course, they dont all manage it on the same scale, but financial crimes like this are rife.

This is the government trying to send a message.
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pretzelcoatl
04/20/24 8:47:39 PM
#27:


Bugmeat posted...
Does it though? These things are so much more than a simple money crime. So many lives are destroyed by this level of theft. Fraud on that scale ruins so many more lives than a guy who murders a few people. For example, how many elderly folks have had their retirement accounts plundered by this sort of fraud? Retirement accounts that they spent their lives building. The money they were counting on to survive their end game. It's the ordinary folks that suffer in the end. Only an evil person would do this. That deserves a death sentence.
I'm personally not at all against the death penalty, just sort of skeptical that any government can mete it out impartial. But considering the scale and the impact to thousands and thousands of people, I don't really feel like I have any problem with it.

In my personal opinion, if more CEOs feared real prosecution and real punishment for major crimes (not death penalty necessarily), my guess is that we might be doing better as a society
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YoBlazer
04/20/24 8:57:57 PM
#28:


Crimsoness posted...
We should start punishing white collar crimes like this in the US

I'm not a big supporter of capital punishment, but I'd be less opposed to it in cases like this than I would for the people who usually get it. How many innocent people lose everything and decide to kill themselves as a direct result of these white collar thieves? How many communities are sucked dry? White collar criminals are fucking heinous, and they are insulated enough from the consequences of their crimes that they can sleep like babies forever. Fuck em.

George Carlin said it well decades ago

https://www.youtube.com/watch?v=6NXYWxdwh9g

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LeoRavus
04/20/24 10:18:23 PM
#29:


Glob posted...
Its definitely making an example of her. What shes done is really common here, and loads of people are still doing it. Of course, they dont all manage it on the same scale, but financial crimes like this are rife.

This is the government trying to send a message.

The publicity and details the government is giving about the case shows that.

I have to wonder what she planned on doing with those billions in cash she was hoarding in her basement.

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Glob
04/20/24 10:21:04 PM
#30:


LeoRavus posted...
The publicity and details the government is giving about the case shows that.

I have to wonder what she planned on doing with those billions in cash she was hoarding in her basement.

The ridiculous thing is, Ive met people who are still doing it and just convinced that theyll never get caught. This doesnt seem to have deterred them at all.
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LouisCyphre6
04/21/24 5:35:32 AM
#31:


Bugmeat posted...
Does it though? These things are so much more than a simple money crime. So many lives are destroyed by this level of theft. Fraud on that scale ruins so many more lives than a guy who murders a few people. For example, how many elderly folks have had their retirement accounts plundered by this sort of fraud? Retirement accounts that they spent their lives building. The money they were counting on to survive their end game. It's the ordinary folks that suffer in the end. Only an evil person would do this. That deserves a death sentence.
... TBH I just went from the info in the OP which makes it sound like she just took out a bunch of loans. It sounded shitty but not deserving of death.

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Nukazie
04/21/24 5:41:59 AM
#32:


should have gotten away with it during the 30 billion mark

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Revelation34
04/21/24 5:56:30 AM
#33:


LeoRavus posted...
Vietnamese law prohibits any individual from holding more than 5% of the shares in any bank. But prosecutors say that through hundreds of shell companies and people acting as her proxies, Truong My Lan actually owned more than 90% of Saigon Commercial.

They accused her of using that power to appoint her own people as managers, and then ordering them to approve hundreds of loans to the network of shell companies she controlled.

The amounts taken out are staggering. Her loans made up 93% of all the bank's lending...

https://www.bbc.com/news/world-asia-68778636

https://gamefaqs.gamespot.com/a/forum/d/df1e8f00.jpg


What a dumb law.

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Glob
04/21/24 6:27:55 AM
#34:


Revelation34 posted...
What a dumb law.

Why? Its an anti-corruption law.
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Tig
04/21/24 6:39:43 AM
#35:


Revelation34 posted...
What a dumb law.
What a dumb post

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tripleh213
04/21/24 6:53:35 AM
#36:


Revelation34 posted...
What a dumb law.
https://gamefaqs.gamespot.com/a/forum/a/ad5748ba.jpg

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mario2000
04/21/24 6:55:44 AM
#37:


Glob posted...
Why? Its an anti-corruption law.

temporarily embarrassed millionaire

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Glob
04/21/24 7:29:39 AM
#38:


mario2000 posted...
temporarily embarrassed millionaire

What?
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cjsdowg
04/21/24 7:31:09 AM
#39:


If she was American she should have gotten more money from the gov. Unless she messed over other rich people then she would have gotten in trouble.

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Revelation34
04/21/24 10:44:23 AM
#40:


Glob posted...


Why? Its an anti-corruption law.


It would never exist in America.

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Glob
04/21/24 10:47:26 AM
#41:


Revelation34 posted...
It would never exist in America.

Yes, America loves financial corruption. Whats your point?
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Haejin
04/21/24 10:50:17 AM
#42:


$44 billion fraud... do you really even need $1 billion? Jesus Christ

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Compsognathus
04/21/24 10:56:26 AM
#43:


I think capital punishment for any reason is barbaric and has no place in the world.

But if a country dies have capital punishment, this scale of crime absolutely warrants it. The harm is absolutely insane.

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Glob
04/21/24 10:59:44 AM
#44:


Compsognathus posted...
I think capital punishment for any reason is barbaric and has no place in the world.

But if a country dies have capital punishment, this scale of crime absolutely warrants it. The harm is absolutely insane.

Pretty much how I feel about it.
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kirbymuncher
04/21/24 11:10:43 AM
#45:


LeoRavus posted...
Her loans made up 93% of all the bank's lending
this is just crazy to think about, using an entire banking company as essentially your own piggybank

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ForsakenHermit
04/21/24 9:07:46 PM
#46:


This woman didn't fly too close to the sun, she flew directly into it.

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DrizztLink
04/21/24 9:11:19 PM
#47:


Revelation34 posted...
It would never exist in America.
I wonder if that "boot leather flavored Pop Tarts" pic is still allowed here.

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Fenriswolf
04/22/24 8:19:25 AM
#48:


https://gamefaqs.gamespot.com/a/forum/4/4e9fd847.jpg

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DKBananaSlamma
04/22/24 5:54:06 PM
#49:


She literally controlled 3% of the country's GDP. That's fucking insane >_>

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