Chiong Mee Lan was accused of bribery, embezzlement and abuse of power. The Financial Times calls his scam the biggest in Vietnam’s history.
A Ho Chi Minh City court sentenced the head of the board of directors of Vietnamese developer Van Thinh Phat Group, Chiong My Lan, to death for embezzling more than $12 billion, the Financial Times wrote, citing local media.
Chiong Mee Lan was accused of bribery, embezzlement and abuse of power. His trial began in March. The FT calls his scam the biggest in Vietnam’s history.
According to the prosecution, Chiong Mi Lan embezzled money from the Saigon Commercial Bank (SCB), which he actually controlled through front men, for 10 years. He is accused of falsifying loan applications to siphon money from SCB, in which he owns 90% of the shares. The main charges against Chiong are that he allegedly embezzled $12 billion from SCB between February 2018 and October 2022.
Vietnamese police have identified more than 42 thousand fraud victims – mostly security holders and SCB depositors. Chiong Mee Lan and associates paid bribes to officials to cover up gross irregularities and SCB’s dire financial situation. In particular, a senior inspector at the State Bank of Vietnam received a bribe of $5.2 million, which is considered one of the largest bribes in the country’s history. The officer was sentenced to life imprisonment.
We remind you that in the United States, in the state of Alabama, the first implementation was carried out using nitrogen. For the death penalty using nitrogen, a mask is placed over a person’s face, through which pure nitrogen is administered, and the person dies from lack of oxygen.
Source: korrespondent
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