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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 ...
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 ...
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.
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 ...
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 ...
Sacombank has decided to dismiss these employees and appoint new ones to ensure the stable operation of Cam Ranh Transaction Office. Sacombank also reported the incident to the State Bank of Vietnam, Khanh Hoa Provincial Branch, and at the same time transferred the case to the competent authority for investigation. [27] [28]
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 ...
In many instances, bank fraud is a criminal offence. While the specific elements of particular banking fraud laws vary depending on jurisdictions, the term bank fraud applies to actions that employ a scheme or artifice, as opposed to bank robbery or theft. For this reason, bank fraud is sometimes considered a white-collar crime. [2]