Death penalty in Vietnam`s largest fraud case
Transcription:
Vietnamese real estate Tycoon Truong My Lanhas been
sentenced to death after being convicted of embezzlement, bribery and banking
regulation violations in what has been described as the country's fraud case.
The court in
the country's Financial Center Ho Chi Minh City, found the 67-year-old property
tycoon guilty of embezzling US$12.5 billion from the Saigon Commercial Joint Stock
Bank (SCB) over an 11-year period .
Lan also breached banking laws that caused the bank to
lose a total of US$ 27 billion.
Prosecutor said Lan used shell companies to
effectively lend herself hundreds of millions of dollars from the bank, which
drained the savings and investments of tens of thousands of depositors.
Lan's husband
Hong Kong investor Eric Chu was also sentenced to 9 years in prison for
violating banking regulations.
The case is said to be part of a wider anti-corruption
campaign in Vietnam that has led to several high-profile arrests, and the
resignations of top figures, including the country's former president Vo Van
Though in March.
For yearsLan has been a central figure in Vietnam's
Financial world.
The former market stall vendor rose to become a property
developer with holdings in Vietnam and abroad.
Her real estate
firm Van Thinh Phat Group managed around 1,000 business entities Under the VTP
umbrella.
Prosecutors said they were used to funnel the loans.
Thursday's verdict does not address the losses of
around 42,000 victims who invested in fraudulent products.
Investigators say Lan will face additional charges in
a separate trial still pending.
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Questions:
1. When did the deadly 7.7 magnitude earthquake hit
Taiwan?
2. How many people have been reported dead as a result
of the earthquake?
3. What significant impact did the earthquake have on
the popular east coast tourist city of Hualien in Taiwan?