Vietnam property tycoon on trial in country's largest financial fraud case involving US$12b
Vietnam has opened a trial today into the country's largest financial fraud case. According to allegations, it involves a $12-billion embezzlement scam and fraudulent loans of up to $40 billion at a Vietnamese commercial bank. At the centre of the case are Vietnamese real-estate tycoon Truong My Lan and her husband, Hong Kong billionaire Eric Chu Nap-kee. More than 80 other defendants are also facing trial, and could face death penalties if convicted. Tung Ngo reports.
Vietnam has opened a trial today into the country's largest financial fraud case. According to allegations, it involves a $12-billion embezzlement scam and fraudulent loans of up to $40 billion at a Vietnamese commercial bank. At the centre of the case are Vietnamese real-estate tycoon Truong My Lan and her husband, Hong Kong billionaire Eric Chu Nap-kee. More than 80 other defendants are also facing trial, and could face death penalties if convicted. Tung Ngo reports.
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