Officials jailed in biggest Vietnam banking fraud

MONDAY, JANUARY 27, 2014
Officials jailed in biggest Vietnam banking fraud

One Vietnamese bank executive was sentenced to life in prison while 20 others received terms of between two and 20 years yesterday in the country's largest embezzlement case.

The case in Ho Chi Minh City centred on Huynh Thi Huyen Nhu, a 35-year-old former senior official at Vietinbank, who was found guilty of embezzling US$43 million (Bt1.4 billion).
The money was part of $230 million she received in funds under thepretext of mobilising capital for two bank branches, authorities said.
The others were found guilty of charges including abuse of power and negligence. One more defendant received a 1-year suspended sentence.