• AssortedBiscuits [they/them]@hexbear.netEnglish
    40·
    19 hours ago

    You miss out the best part:

    Acknowledging Lan’s expression of remorse and pledge to compensate all the loss she had caused to the bank along with her contributions during the COVID-19 pandemic, the High-Level People’s Procuracy in HCM City held that these mitigating factors could be used to ease part of the penalty for the charge of “violating lending regulations in the activities of credit organisations”. It proposed the sentence be reduced from 20 years to 16 -18 years.

    However, it said the mitigating factors were insufficient to warrant leniency on the charges of "fraudulent appropriation of property” and “giving bribes” as Lan had concurrently committed many particularly serious and organised wrongdoings.

    The procurators said the death sentence for "fraudulent appropriation of property” should be upheld for Lan, who should also face a 20-year jail sentence for “giving bribes”. The combined sentence amounts to death penalty.

    • Sauerkraut@discuss.tchncs.deEnglish
      15·
      14 hours ago

      That doesn’t surprise me. Private defense contractors milk the US government for hundreds of billions every year and billions go straight into shareholder / company owner’s pockets

    • underisk [none/use name]@hexbear.netEnglish
      39·
      20 hours ago

      In the April conviction, she was found to have orchestrated financial fraud amounting to $12.5 billion for illegally controlling a major bank allowing loans that resulted in losses of $27 billion, according to state media reports.

      I don’t know what “illegally controlling a major bank” means or how she pulled it off but that’s what AP news says about it.

      • WhatDoYouMeanPodcast [comrade/them]@hexbear.netEnglish
        45·
        20 hours ago

        Sounds like you give yourself sweetheart deals on mortgages and then the money line goes up. Then you pay your friend for landscaping and shit to keep it in the family. You essentially put on creative mode on Rollercoaster Tycoon. Then some pencil pusher says that if they were doing legit banking based on their historical returns they could have made X amount of dollars given a Y input [1].

        [1] I made it the fuck up

        They included Chu Nap Kee, Lan’s husband, who was sentenced to two years for money laundering.

        In addition to obtaining property by fraud, Lan was also convicted of money laundering and illegal cross-border money transfer charges, according to state-run media.

        She was accused of raising $1.2 billion from nearly 36,000 investors by issuing bonds illegally through four companies, according to state media reports.

        She was also found guilty of siphoning off $18 billion obtained through fraud and for using companies controlled by her to illegally transfer more than $4.5 billion in and out of Vietnam between 2012 and 2022.

        It was not immediately clear if Lan would appeal the verdict and no date has yet been set for her appeal of her death penalty conviction to be heard.

        In the April conviction, she was found to have orchestrated financial fraud amounting to $12.5 billion for illegally controlling a major bank allowing loans that resulted in losses of $27 billion, according to state media reports.

        No, she’s just got the billionaire gene. In America she’d be vice president right now.