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In July 2023, the State Bank of Vietnam decided to apply special control measures to SCB. Subsequently, the bank continuously closed branches and transaction offices. [37] As of January 2024, police supposedly tried to find about 42,000 defrauded depositors who had not received interest or principal payments since the arrest of Lan in October ...
Lan, 68, was appealing a death sentence for orchestrating a $44bn fraud – the largest in banking history. Convicted in April under Vietnam’s anti-corruption campaign, she was accused of ...
Lan’s arrest in October 2022 sparked a week-long run on Saigon Commercial Bank (SCB), then the nation’s fifth-largest lender, over suspicions of its ties with Lan’s alleged financial crimes ...
A key figure in Vietnam's largest, multi-billion-dollar financial fraud, Lan was sentenced to death for embezzlement, bribery, and violations of banking regulations on 11 April 2024. [ 1 ] In October 2022, she was arrested for using fake loan applications to embezzle more than US$12.5 billion from Sai Gon Joint Stock Commercial Bank , which she ...
Real estate tycoon Truong My Lan was sentenced Thursday to death by a court in Ho Chi Minh City in southern Vietnam in the country's largest financial fraud case ever, state media Vietnam Net said.
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Banking in Vietnam started in 1976 with the State Bank Vietnam, which became the central bank of the country. Vietnam's banks suffer from low public confidence, regulatory and managerial weakness, high levels of non-performing loans (NPL), non-compliance with the Basel capital standards, and the absence of international auditing.
HANOI, Vietnam (AP) — A Vietnamese real estate tycoon was sentenced to death Thursday in the country's biggest ever financial fraud case, a shocking development in an intensifying anti ...