Vietnam's Biggest Ever Scam Cripples Bank | Govt Secretly Rescues it | Vantage with Palki Sharma

A new report reveals more details about the high-profile real-estate scam that has rocked Vietnam. Real-estate tycoon Truong My Lan was convicted of embezzling $12.5 Billion and sentenced to death last week. She embezzled this money over the course of a decade. It was possible because the real-estate mogul owned about 90% of the Saigon Joint Stock Commercial Bank, or SCB. Lan could not legally own that much of the bank, so she used proxies to consolidate her control. And then the bank defrauded customers and gave loans to Lan. Now it turns out that after arresting Lan in 2022, Vietnam's government took over the bank and secretly poured in $24 Billion to protect its customers.

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Vietnam | Scam | Bank | Government | Controversy | Firstpost | World News | News Live | Vantage | Palki Sharma | News

#vietnam #scam #bank #government #controversy #firstpost #vantageonfirstpost #palkisharma #worldnews

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