VIETNAM: BANKER SENTENCED TO DEATH IN GRAND SCAM

March 13, 2014: A court in the Central Highlands gave the death sentence to a Vietnam Development Bank (VDB) executive and several life sentences to others involved in a hundred-million-dollar scam.
The defendants had taken advantage of credit privileges given to exporters to fake documents and borrow more than VND2 trillion (US$94.88 million) from VBD’s Central Highlands branch for Dak Nong and the neighboring Dak Lak Province, as well as Nam A bank at its Hanoi branch, and the Ho Chi Minh City-based Orient Commercial Bank.
Vu Viet Hung, 57-year-old former director of the VDB branch, was punished on three charges - a death sentence for taking bribes in the form of a BMW car worth 3.2 billion in late 2009, a life sentence for fraud, and 20 years in jail for violating lending regulations. (Sources: thanhniennews.com, 17/03/2014)