Vietnam Paints Billionaire’s Death Sentence as a Victory for Clean Governance. It’s Not ...Middle East

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Vietnam Paints Billionaire’s Death Sentence as a Victory for Clean Governance. It’s Not
It’s Southeast Asia’s biggest ever fraud, amounting to $12.5 billion and embroiling some of Vietnam’s top bankers and officials. And on Thursday, a Ho Chi Minh City court reached its verdict: a death sentence for Truong My Lan, a highflying 67-year-old businesswoman who began life hawking cosmetics from a market stall in the southern city before in 1992 founding Van Thinh Phat, a sprawling company which developed luxury apartments, offices, hotels, and shopping malls. [time-brightcove not-tgx=”true”] In 2011, Lan was enlisted to shepherd the merger of the troubled Saigon Joint Commercial Bank, or SCB, with two other lenders in a plan overseen by the Vietnam Central Bank. But unti

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