Vietnam sentences real estate tycoon Truong My Lan to death in its largest-ever fraud case
Vietnam sentences real estate tycoon Truong My Lan to death in its largest-ever fraud case
Real estate tycoon Truong My Lan was sentenced to death by a court in Ho Chi Minh City in the country’s largest financial fraud case ever, state media Vietnam Net said.
Meanwhile in the usa... Our very own real estate fraudster with 91 felony charges is the pick of 50% of the country to be president.
That was bizarre to type. I can't believe this is reality.
Trump has more felony charges than Biden has years of age
'Nam wins again.
Or the fact the other real estate fraudsters who admitted dont convict Trump of the crime we are also doing!
I can't say nothing will happen to them as I thought, nothing would happen to Trump and here we are.
I also have a biy more respect for giving someone enough rope to hang themselves. If Trump would of been stopped before his presidency, due to all of the reason any previous candidate would of been disqualified. We wouldn't be here either.
~50% of the voters*
30% of eligible voters didn't vote in 2020 which had the highest turnout since 1900.
I think people like her deserve to spend the rest of their lives in prison, but no crime, no matter how severe, deserves a death penalty.
Nah, make the rich afraid again. We can talk red rose pacifism once the ultrawealthy are out of the picture.
But when the death penalty is available, it's not just the ultra wealthy who suffer. It's far easier for the ultra wealthy to use their resources to frame someone they don't like as a murderer or something and get that person executed. It's even easier for the state to do that if they are corrupt enough. I'd much rather not give the state the right to sentence anyone to death at any point. Make these ultra rich criminals go to prison for the rest of their lives, make it unpardonable too.
I think there are certainly crimes that deserve the death penalty (think CP type crimes). Just get those people out of society tbh, but this is just my opinion.
The only problem I have is with 100% certainly. You would have to be certain, or very very close to absolute certainty, that you have the right person who committed the crime.
The 67-year-old chair of the real estate company Van Thinh Phat was formally charged with fraud amounting to $12.5 billion — nearly 3% of the country’s 2022 GDP.
Wow, when your fraud starts being measured in "percentage of GDP" you know you got too greedy.
According to prosecutors, over a period of three years from February 2019, she ordered her driver to withdraw 108 trillion Vietnamese dong, more than $4bn (£2.3bn) in cash from the bank, and store it in her basement.
That much cash, even if all of it was in Vietnam's largest denomination banknotes, would weigh two tonnes.
From a BBC article
I don't believe these things happen because of great work or investigations, she must have stepped on someone else's toes or something, that's the only way influential people go down...
There's your answer:
Her actions “not only violate the property management rights of individuals and organizations but also push SCB (Saigon Joint Stock Commercial Bank) into a state of special control; eroding people’s trust in the leadership of the Party and State,”
When rich people get affected, people go down
You must be from VN to know that thing. That's for real though
Now do Trump
Do both the genocidal candidates actually
This but unironically.
👈
SEE! THEY'LL KILL YOU!!
Finally some good fucking news!
Now if only we could do this to blackrock execs in burgerland
I read the article and I know her fraud was extensive but - anyone else feel like the death penalty for fraud is a bit over the top?
12.5 billion in fraud? Nah.
Just seemed to have no logical end point. Like stop, you've got yours, retire from the game before you die... Well, now she's going to die early. That's heavy but it's the path she chose.
It's not just "fraud." She cost people's livelihood, broke up families, and made people homeless directly through her actions. Even speaking as a marxist, banking isn't all intangible made up stuff. There are real individuals suffering consequences, and most of them aren't just rich people doing rich people things.
Personally, I don't think she should ever be allowed to die until she pays back her debt to society. Death is too easy.
Just about the only thing I agree with for the death penalty. Everything else can be reformed or quarantined. Wealth and power are cancerous. Doesn't matter where they are, they will never stop trying to take over, and total destruction is the only way to ensure they never get loose to wreak havoc on millions of us ever again.
Whether the death penalty should exist at all is a separate question, but Marxists generally recognize Engels’ conception of social murder.
When one individual inflicts bodily injury upon another such that death results, we call the deed manslaughter; when the assailant knew in advance that the injury would be fatal, we call his deed murder. But when society places hundreds of proletarians in such a position that they inevitably meet a too early and an unnatural death, one which is quite as much a death by violence as that by the sword or bullet; when it deprives thousands of the necessaries of life, places them under conditions in which they cannot live – forces them, through the strong arm of the law, to remain in such conditions until that death ensues which is the inevitable consequence – knows that these thousands of victims must perish, and yet permits these conditions to remain, its deed is murder just as surely as the deed of the single individual; disguised, malicious murder, murder against which none can defend himself, which does not seem what it is, because no man sees the murderer, because the death of the victim seems a natural one, since the offence is more one of omission than of commission. But murder it remains.
A death sentence is always excessive.
Fraud should be punished heavily though. Someone or several someones probably already died as a consequence of that money missing in the system. I'm not sure if a long jail sentence would be much better, with her being 67 it's a death sentence either way.
In my opinion they ought to follow the money. It's impossible for these amounts to just disappear or to have been used by her. It would make sense to keep her alive if there's any chance of recovering more of that lost money. But maybe that's the point.
I don't think anyone should suffer the death penalty, but I also think that there must exist some amount of generalized damage that is enough to cause surplus deaths
Vietnam continues to win.
Doing a multi billion dollar realestate fraud, in a semi-communist "Socialist Oriented Market Economy"....
...yeah the penalty is gonna be on the steep side. Landlords, rent seekers, and fraudsters aren't looked upon nicely anywhere, but particularly so in a country with that relationship to communism.
Landlords aren't generally considered communal minded. Fraud isn't good for the community, it's not done for the collective good.
The immune system of the masses has weeded out the what was going on here, and will deal with it via putting the perpetrator to death. Making sure this outrageous and damaging conduct will not continue or be encouraged.
It's a tough call, and they're making it.
I'm usually not fond of the death penalty, but these are the kind of people it should be reserved for.
Meh, could have just as easily seized her assets and prison forever
iirc the death sentence is just being used as a motivation for her to return all the stuff she got from corruption and if she does it'll be downgraded to life in prison
Dead panalty is cheaper option.
sucks to be a criminal billionaire in a socialist-ish country
I don't support the death penalty, but I do support harsh punishment for this kind of massive scale fraud.
Completely agree, the death penalty isn't necessary, but I am glad of the message this sends to some rich folk. Probably mostly Vietnamese ones, but still.
Great for them! Happy for you Vietnam 🙂
Has the death penalty been used for this sort of crime before in Vietnam and has it been effective at deterring others in a measurable way?
In Vietnam? Not sure. The French seemed to have a lasting benefit from doing this to every landlord they could lay hands on in the late 1700s, though.
The death penalty in this case isn't to deter future crime of the same type. It's to remove a specific type of malignant cancer from society and ensure that it can't spread to others. All of her cohorts that could be punished were sentenced for a range of time and a fine as is appropriate.
Wait, so in other countries… fraud has consequences?
…negative consequences?
This is the best summary I could come up with:
The 67-year-old chair of the real estate company Van Thinh Phat was formally charged with fraud amounting to $12.5 billion — nearly 3% of the country’s 2022 GDP.
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.
She had started out helping her mother, a Chinese businesswoman, to sell cosmetics in Ho Chi Minh City’s oldest market, according to state media Tien Phong.
Van Thinh Phat would grow to become one of Vietnam’s richest real estate firms, with projects including luxury residential buildings, offices, hotels and shopping centers.
She indirectly owned more than 90% of the bank — a charge she denied — and approved thousands of loans to “ghost companies,” according to government documents.
In November, Communist Party General Secretary Nguyen Phu Trong, Vietnam’s top politician, said that the anti-corruption fight would “continue for the long term.”
The original article contains 621 words, the summary contains 159 words. Saved 74%. I'm a bot and I'm open source!
More of this.
Is this what equal opportunity under the law looks like?
Are they wearing the same lipstick? She must have pissed off a high ranking communist.