Truong My Lan, a high-profile businesswoman, has been arrested in Vietnam's biggest ever financial fraud case. Lan, who chaired a prominent company involved in luxury real estate development, has been charged with financial crimes. This arrest is a significant development in the country's anti-corruption drive.
Thursday in the country's biggest ever financial fraud case, a shocking development in an intensifying anti-corruption drive in the southeast Asian nation.
Today the company is linked to some of Ho Chi Minh’s most valuable downtown properties including the glittering 39-story Times Square Saigon, the five-star Windsor Plaza Hotel, the 37-story Capital Place office building and the five-star Sherwood Residence hotel where Lan lived until her arrest.Lan was involved in the 2011 merger of the beleaguered Saigon Joint Commercial Bank, or SCB, with two other lenders in a plan coordinated by Vietnam’s central bank.
While Lan’s arrest and the scale of the scam shocked the nation, the case also raised questions about whether other banks or businesses had similarly erred,
Vietnam Financial Fraud High-Profile Businesswoman Anti-Corruption Drive Real Estate Development
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