Uh… either the scale of fraud is huge, at the level of a crime syndicate, or they are convicting some innocent people. Usually the government overcharges people to encourage confessions, leading to some people being found innocent.
Do we really think the Vietnamese prosecutors are the best in the world? Maybe the jury really hated these people.
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.
I read in a separate article that basically that’s how she got to where she is. A bunch of people that took bribes over the years are also going to jail. This is supposedly the Vietnamese government trying to fight that corruption. !remindme 5years to see how it works out…
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