HANOI – Vietnam's real estate tycoon Truong My Lan was sentenced to death by a court in the largest financial fraud case in Southeast Asian nation.
Lan, 67, was convicted of embezzlement of over $12.5 billion, graft, abuse of power, appropriation, and violations of financial laws.
Trương Mỹ Lan is a Vietnamese property tycoon. She started her venture in hair accessory business before tapping real estate sector. She took control of a leading commercial Bank in 2012, directing most loans to her companies through intermediaries.
In 2022, she was apprehended for embezzling over US$12.5 billion from Sai Gon Joint Stock Commercial Bank through sham loan applications.
Her trial for embezzlement, bribery, and violating banking regulations, starting in March 2024, is considered country's largest corruption scandal.
Lan's arrest and trial are part of Vietnam's anti-corruption efforts, led by Nguyễn Phú Trọng. The trial involved 82 defendants, including Lan's husband, niece, and granddaughter, with several former bank and government officials also implicated.
Her husband and niece also got jail time, while others were sentenced to jail terms ranging from suspended to life.
Truong Lan, on the other hand, denied the charges and blamed her subordinates for the embezzlement.
Pakistani currency rates against US Dollar and other currencies on May 18, 2024 (Saturday) in open market.
US dollar was being quoted at 277.4 for buying and 280.35 for selling.
Euro stands at 297 for buying and 299.5 for selling while British Pound rate is 348.5 for buying, and 352 for selling.
UAE Dirham AED was at 75.25 and Saudi Riyal came down to 73.50.
Currency | Symbol | Buying | Selling |
---|---|---|---|
US Dollar | USD | 277.4 | 280.35 |
Euro | EUR | 297 | 299.5 |
UK Pound Sterling | GBP | 348.5 | 352 |
U.A.E Dirham | AED | 75.25 | 76 |
Saudi Riyal | SAR | 73.5 | 74.25 |
Australian Dollar | AUD | 181 | 183 |
Bahrain Dinar | BHD | 747.77 | 755.77 |
Canadian Dollar | CAD | 203 | 205 |
China Yuan | CNY | 38.49 | 38.89 |
Danish Krone | DKK | 40.25 | 40.65 |
Hong Kong Dollar | HKD | 35.96 | 36.31 |
Indian Rupee | INR | 3.33 | 3.44 |
Japanese Yen | JPY | 1.91 | 1.99 |
Kuwaiti Dinar | KWD | 913.28 | 922.28 |
Malaysian Ringgit | MYR | 58.69 | 59.29 |
New Zealand Dollar | NZD | 169.45 | 171.45 |
Norwegians Krone | NOK | 25.67 | 25.97 |
Omani Riyal | OMR | 730.59 | 738.59 |
Qatari Riyal | QAR | 76.41 | 77.11 |
Singapore Dollar | SGD | 203 | 205 |
Swedish Korona | SEK | 25.67 | 25.97 |
Swiss Franc | CHF | 309.01 | 311.51 |
Thai Bhat | THB | 7.57 | 7.72 |
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