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Vietnam : Corruption, women and the death penalty

Anjali

The scam that was exposed in Vietnam was not only the involvement of women, but the scope of the scam was also huge and it was 3 lakh 68 thousand crore rupees i. e. 44 billion US dollars.


At present, some women are very popular around us, such as Kamala Harris, who ran for the US president, Finance Minister Nirmala Sitharaman, who presented the budget for the seventh consecutive time, and Sheikh Hasina of Bangladesh. But today's and future women are also being discussed in the world. But not for good reasons, but because of his involvement in a scam, which has also been proven in court. By the way, the involvement of women in scams is very low, especially in our country, men are active in the financial sector. There are, of course, some notable exceptions. But the scam that was exposed in Vietnam was not only the involvement of women, but the scope of the scam was also huge and it was 3 lakh 68 thousand crore rupees i.e. 44 billion US dollars. Well, this scam is not very old, it was solved in April 2024. However, Indian media didn't give enough attention to it. Let's see how this fraud is done.

Her name was Trang My Lan. Although she came from a poor family, she had earned a different identity through real estate business. Her original business was selling items related to women's hair. That's how she got acquainted with some politicians and was encouraged to start a real estate business by looking at her qualities. Born in the year 1956, Lan started the industry of selling real estate in 1992 and, of course, with the blessings of politicians, achieved tremendous success in it. In the year 2012, she consolidated 3 bankrupt banks and founded the Saigon Gon Joint Stock Commercial Bank. The three banks were First Bank (Ficom Bank), Vietnam Tin Nagih Bank and Saigon Bank (SCB). All three banks were based in Vietnam's Hao Chi Minh City. The old name of this city was Saigon, which changed in 1975 after the name of one of their leaders. The country's capital is Hanoi, but the economic capital is Hao Chi Minh.


In Vietnam, you can't own more than 5% of a bank's shares. Lan, however, acquired 91.50 per cent ownership in the new bank through various entities and shell companies. Once such a large ownership is acquired, it is almost certain to be a scam! The Vietnamese people had faithfully invested money in the bank, but they were betrayed. The fake and shell companies to whom the bank gave loans were also set up by these LANs. That's why she took the money. Van Tinh Fat was the name of her real estate company. This company was also given a loan by the Saigon Bank, which, of course, sank. Still, there is a lot in the scandal that was beyond the imagination of ordinary people, but let's look at it in the next part.