SEAToday.com, Saigon - Vietnam has been rocked by its largest corruption scandal in Southeast Asia after authorities arrested a prominent real estate developer over allegedly embezzling 12.4 billion dollars or more than 3 per cent of the country’s GDP.
The chairperson of the real estate developer Van Thinh Phat Holding Group, Truong My Lan, was accused by the Ministry of Public Security on November 17 of embezzling 12.4 billion dollars from Saigon Commercial Bank of which she was a majority stakeholder.
Besides, according to the ministry’s statements, she also operated a vast network of more than 1000 domestic and foreign subsidiaries as well as further shell companies that took out more than 40 billion euros in loans from the Saigon Commercial Bank.
Previously, in mid-November, the Ministry of Public Security suggested the prosecution of an additional 85 individuals, which included 24 government officials and affiliates of Saigon Commercial Bank and Van Thinh Phat Holding Group.
Later, the Internal Affairs Commission of the country’s communist party central committee suggested open investigations into 23 more state officials: including 12 from the State Bank of Vietnam and the country’s central bank. (Alv/Kei)
Recommended Article
News Update
Singapore Prime Minister Lee Hsien Loong to Step Down in May
Singapore Prime Minister Lee Hsien Loong to Step Down in May
Update: 133 People Were Killed During The Terrorist Attack at The...
Update: 133 People Were Killed During The Terrorist Attack at The Crocus Concert Hall, Moscow
Update: 93 People Were Killed During The Terrorist Attack at The...
93 People Were Killed During The Terror Attack at The Crocus Concert Hall, Moscow
Terror Strikes at Crocus City Hall in Moscow, More Than 60 People...
Terror Strikes at Crocus City Hall, Moscow, Russia. More than 60 people were killed.
Trending
- # Daily Update
- # Regional
- # Nasional
- # Internasional
Popular Post
Explosion Occurs in Bekasi Field Artillery Battalion Ammunition W...
Explosion Occurs in Bekasi Field Artillery Battalion Ammunition Warehouse
Japan Firms Walked Out of The Singapore-Malaysia High Speed Railw...
On Thursday (11/1), Japanese firms decided to opt out of the Malaysia-Singapore High-Speed railway project, amid the deadline for requests on January 15.
Jakarta Provincial Minimum Wage 2024 Set to IDR5.06 M
The Jakarta Provincial Government has set the Provincial Minimum Wage (UMP) for 2024 at Rp5,067,381
Bank Indonesia Revokes 3 Indonesian Coins
Bank Indonesia (BI) has revoked and withdrawn three types of rupiah bills from circulation, starting December 1, 2023.
31 Injured and 5 Sub-districts in Sumedang-Bandung Regency Affect...
At least 31 people were injured and five sub-districts were affected by a tornado that struck Sumedang-Bandung Regency, West Java, on Wednesday (2/21)