How did billionaire Truong My Lan steal 3% of Vietnam's 2022 GDP? | DW News

Property tycoon Truong My Lan has been sentenced to death in Vietnam's biggest ever financial fraud case.

Truong My Lan was one of 85 people on trial for embezzling $12.5 billion. The death sentence is seen as unusually severe. Lan's arrest last year was part of an anti-corruption drive that has engulfed the top levels of Vietnamese politics.
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00:27 Professor Tuong Vu, Director of US-Vietnam Research Center Oregon

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[ebdhudnav]

She didn't act alone. She promised some people money to help her steal and they would get a cut and when she got greedy, they testified against her

[KhoaBuiLawyer]

I am VN lawyer and got LL.M in an New York Law School, the actual reasons are between the lines. The banking and securities laws in Vietnam also contributed to this wrongdoing case. Besides, the competent administrators did knowingly learnt about her frauds (actually not only hers). There are complex issues here but personally the biggest issue here is the legal system and enforcement bodies.

[vosanh-vodiet]

There are 86 people who have been imprisoned, one death penalty and three life sentence, many are sentenced between 3 to 20 years. This guy knows very superficially.

[AverageJoe]

She paid off the wrong people it seems .

[phuongha]

She's the one that got caught. There's still more of them that's hasn't been caught.

[gskylexkk]

At 68, she still looks good, she looks calm even with a death sentence, at her age, she got nothing much to lose, she had been rich and powerful for a very long time whilst many poor Vietnamese people are still suffering from poverty.

[TheYohan]

How come this sentence was not applied to the corrupt officials in our country 🇵🇭

[hviettan]

I live in Vietnam and I can confirm this. The more I research the laws for my job, the more of the risk violating it I feel. The laws are so vague that it only allows the tax official to interprete it the way they want and almost impossible to do the norm of my industry without violating the law in some ways.

5:11 "Everyone who does business in Vietnam has to try to evade the laws or violate the law in in some ways because the laws are vague and the laws are are meant to serve the officials and not to serve the business or the people so the laws made to serve the the officials the government so whenever the government want to use the law against you they can use it and so uh so it it's very uh it's almost impossible to do any business in Vietnam without violating the laws."

[mark-]

The Vietnamese government is guilty as well then

[Siranoxz]

It seems that the government is equally complicit here.

[musicful]

The Guest didn't answer the question "how did she steal the money", but trying to push his narrative all over the place. She withdrew the regular people's life savings using fraud, proxies. Basically she built her own banks and stole money from the people, depositors, bondholders 42, 000 victims and their families impacted, suffered severely.

[sd]

She forgot to kick 10% up to "The Big Guy".

[Tiaimo]

If you loan too much, it's bank problem. If you own that bank, it's government and official problem.

[CaraMarie]

So why is she the only one going six feet under for this? She might have been at the top but you dont keep that going for so long without a whole lot of people holding it up

[stevedolesch]

12 million I understand but 12.5 billion? I'm dumbfounded. Vietnam?

[brianmack]

Upper middle class in Vietnam is $1, 500 a month, this level of corruption can destabilize a nation.

[RealAnthonyJones]

She didn’t get caught. She getting sacrificed.

[D-bi]

She did it with help from the government, and now they turn their back on her. In Vietnam, they used jungle laws to justice citizens but not for government officials.

[teoengchin]

To summarize what i read from her Wikipedia: She robbed the bank by owning it

[ps-coip]

The reason why she is so calm is probably cos she knows she can bribe her way out of the death sentence. The commentator also said she has moved past multiple prior convictions as well.