Death to all billionaires laughter in response to their pleas for mercy
this post was submitted on 26 Nov 2024
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traingang
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LANDLORDS COWER IN FEAR OF MAOTRAIN
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piss on their graves.
long live the red terror!
that's the greatest banner ever made
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How the fuck do you defraud a country for 27 billion dollars
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.
~~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.
Probably failing to report a conflict of interest that would’ve made her position impossible?
wikipedia has summarized the situation in a way neither the fortune article nor that AP news article could with a single paragraph:
In October 2022, she was arrested for using fake loan applications to embezzle more than US$12.5 billion from Sai Gon Joint Stock Commercial Bank, which she controlled through more than two dozen middlemen. This caused a bank run.
Amazingly concise lmao.
Rare NATOpedia W
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
Halliburton nodding
Also that is 6% of the country's GDP.
That's like if someone conducted a fraud of $1.8 trillion against the US.
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.
Haw haw.
We do a little trolling
She will repay her debt to society in the form of a warning to the rest.
I wonder if Vietnam does the death sentence with x year reprieve like China or if they're straight up murking them.
20 years in prison before it seems
Get the money back and then execute her lol
Just gotta look for loose change under the couch cushions and car seats one more time…
tycoons would rather die than actually surrender their ill-gotten money
RealPage go to Vietnam please 
This could be like the new in Minecraft.
Get wrecked, bozo!
Where's she gonna get $27B in a way that wouldn't merit a second death sentence?