INSUBCONTINENT EXCLUSIVE:
financial fraud case ever, state media Vietnam Net said.The 67-year-old chair of the real estate company Van Thinh Phat was formally charged
between 2012 and 2022 and allowed 2,500 loans that resulted in losses of $27 billion to the bank, reported state media VnExpress
an orchestrated and sophisticated criminal enterprise that had serious consequences with no possibility of the money being recovered,
the judgement as saying.Her niece, Truong Hue Van, the chief executive of Van Thinh Phat, was sentenced to 17 years in prison for aiding her
aunt.Lan and her family established the Van Thing Phat company in 1992 after Vietnam shed its state-run economy in favor of a more
market-oriented approach that was open to foreigners
buildings, offices, hotels and shopping centers
found that she used this approach to tap SCB for cash
her tracks, it added.Former central bank official Do Thi Nhan was also sentenced Thursday to life in prison for accepting $5.2 million in
The so-called Blazing Furnace campaign has touched the highest echelons of Vietnamese politics
economic outlook and making foreign investors jittery at a time when Vietnam has been trying to position itself as the ideal home for
businesses trying to pivot their supply chains away from China.The real estate sector in Vietnam has been hit particularly hard
An estimated 1,300 property firms withdrew from the market in 2023, developers have been offering discounts and gold as gifts to attract
buyers, and despite rents for mixed-use properties known in Southeast Asia as shophouses falling by a third in Ho Chi Minh City, many in the
