April 11 saw the People’s Court of Ho Chi Minh City deliver a momentous verdict: Truong My Lan, chairperson of the Van Thinh Phat Group, was sentenced to death.In one sense or another, this was a long legal battle over corruption and other financial crimes.
Sentencing Details
During the trial, Truong My Lan was penalized many times: 20 years for violation of lending regulations, a sentence of death for looting the public of assets, and receive another 20 years as punishment on bribery charges. In sum, these added up to her doom–the legal order of execution demonstrating just how serious her crimes had been.
Investigation and Co-defendant Sentences
Evidence was put before the court linking several people to this demand, and harsh penalties fell on other high-ranking officials both in industry and banking:
- Truong Hue Van, CEO of Windsor Real Estate Management Group, received a sentence of 17 years.
- Chu Lap Co, chairman Times Square Investment Corporation, was sentenced to 9 years.
- Nguyen Van Hung, former deputy chief inspector at the Banking Supervision Agency, received 11-year sentence.
Van Thinh Phat’s Business and Ritualists
Under Lan, Van Thinh Phat Group has built a sprawling empire. There are thousands of connected and networked origination layers. This network is the key to the financial “irregularities” which dragged on so long before reaching their climax in court.
Main Outcomes and Additional Penalties
As of October 2022, evidenced by the court also included Lan’s control over 91.5% of SCB Bank shares through surrogates, a factor which greatly influenced her sentencing.Besides by means of this controlling stake, the bank fell into a center-wide morass of financial and legal violations.
Others with Strong Ties to SCB Bank Received Severe Sentences Linked to the Scale of Their Involvement:
- Bui Anh Dung and Vo Tan Hoang Van, both formering from SCB, received life sentences.
- For the same reason, other officials also received heavy sentences, ranging from 16 years to 20 years.
Conclusion
Importance and Impact The death sentence for the Vietnamese tycoon represents a watershed in the country’s efforts to combat corruption and conflicts of interest in private enterprise by stamping out company law as well as business ethics. This case serves as a grim reminder to top management what is involved in corrupt practices.
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FAQs
What is the death penalty in Vietnam?
According to Article 40, Clause 1 of the 2015 Penal Code (amended and supplemented in 2017), the death penalty is a special punishment which shall be imposed only upon individuals who have committed particularly serious crimes that fall into various categories of offences: those concerning national security, serious violence in violation of humane life laws terrorists’ attacks drug trafficking offenses corruption and other especially grave offenses as defined by law shall.
What execution methods are used in Vietnam?
Formerly, under a customary form of dealing with criminals by having them executed in the fields or town squares, the firing squad of seven police would have made its appearance on such occasions. For some time past, however … (end of quote) No more since November, 2011 when the National Assembly of Vietnam passed Law on Execution of Criminal Judgments (It is article 59(1) that deals with executions) execution has been by lethal injection.
