Page 6 - aruba-today-20240412

A6 WORLD NEWS
Friday 12 april 2024
Vietnam sentences real estate tycoon Truong My Lan to death in

its largest-ever fraud case

By ANIRUDDHA GHOSAL Vietnam shed its state-
Associated Press run economy in favor of a
HANOI, Vietnam (AP) — more market-oriented ap-
Real estate tycoon Truong proach that was open to
My Lan was sentenced foreigners. She had started
Thursday to death by a out helping her mother, a
court in Ho Chi Minh City Chinese businesswoman,
in southern Vietnam in the to sell cosmetics in Ho Chi
country’s largest financial Minh City’s oldest market,
fraud case ever, state me- according to state media
dia Vietnam Net said. Tien Phong.
The 67-year-old chair of Van Thinh Phat would
the real estate company grow to become one of
Van Thinh Phat was for- Vietnam’s richest real es-
mally charged with fraud tate firms, with projects in-
amounting to $12.5 billion cluding luxury residential
nearly 3% of the country’s buildings, offices, hotels
2022 GDP. and shopping centers. This
Lan illegally controlled Sai- made her a key player in
gon Joint Stock Commer- the country’s financial in-
cial Bank between 2012 dustry. She orchestrated
and 2022 and allowed the 2011 merger of the be-
2,500 loans that resulted in leaguered SCB bank with
losses of $27 billion to the Business woman Truong My Lan attends a trial in Ho Chi Minh City, Vietnam on Thursday, April 11, two other lenders in co-
bank, reported state me- 2024. ordination with Vietnam’s
dia VnExpress. The court Associated Press central bank. The court
asked her to compensate at the helm of an orches- ment rights of individuals saying. found that she used this
the bank $26.9 million. trated and sophisticated and organizations but also Her niece, Truong Hue Van, approach to tap SCB for
Despite mitigating circum- criminal enterprise that had push SCB (Saigon Joint the chief executive of Van cash. She indirectly owned
stances this was a first-time serious consequences with Stock Commercial Bank) Thinh Phat, was sentenced more than 90% of the bank
offense and Lan participat- no possibility of the money into a state of special con- to 17 years in prison for aid- a charge she denied and
ed in charity activities the being recovered, VnEx- trol; eroding people’s trust ing her aunt. approved thousands of
court attributed its harsh press said. in the leadership of the Lan and her family estab- loans to “ghost compa-
sentence to the seriousness Her actions “not only vio- Party and State,” VnExpress lished the Van Thing Phat nies,” according to govern-
of the case, saying Lan was late the property manage- quoted the judgement as company in 1992 after ment documents. q

Mexico wants U.N. to suspend Ecuador over its police raid on the

Mexican embassy in Quito

MEXICO CITY (AP) — Mexi- defend its actions and said police restrained him and
co’s president said Thursday an apology “is not some- pushed him to the floor as
his country wants the United thing that is under discussion they carried Glas out.
Nations to suspend Ecuador at this moment.” A copy of Mexico’s formal
from the world body as part The two countries have complaint filed with the ICJ
of a complaint to the top been tussling over Glas, a said, “Mr. Canseco was
U.N. court over Ecuador’s convicted criminal and fu- violently assaulted at the
police raid last week on the gitive, since he took refuge Embassy library,” adding,
Mexican embass y in Quito. at Mexico’s embassy in De- “This resulted in injuries to his
Tensions between Mexico cember. arms, legs, face, back, and
and Ecuador have soared Ecuador has argued that neck, as well as psychologi-
since late last week when Glas has been targeted cal harm.”
Ecuadorian authorities for crimes, not for political The complaint claims that
forced their way into the reasons, and that Mexico “a member of the United
diplomatic mission to arrest should not have been con- Nations which has persis-
Ecuador’s former Vice Pres- Ecuador’s Vice President Jorge Glas speaks during an interview sidering asylum for him. On tently violated the Principles
ident Jorge Glas who had at his office in Quito, Ecuador, Sept. 12, 2017. April 5, Ecuadorian police contained therein may be
been holed up there seek- Associated Press scaled the embassy walls expelled from the Organiza-
ing asylum in Mexico. country. from the U.N. Security Coun- and broke into the building. tion.”
Mexico filed its complaint President Andrés Manuel cil. Roberto Canseco, Mexico’s It asked the court “to sus-
Thursday at the Interna- López Obrador, at a news López Obrador said Mexico head of consular affairs and pend Ecuador as member
tional Court of Justice in conference in Mexico City, is demanding a public apol- the highest ranking diplo- of the United Nations” until
the Netherlands asking the railed against Ecuador and ogy from Ecuador for the mat present since Ecuador it issues “a public apology
U.N. to suspend Ecuador, said that the court, “in ac- raid, reparation of damag- expelled the ambassador recognizing its violations
although a U.N. spokesman cordance with the United es and a promise not to do earlier in the week, tried to to the fundamental princi-
in New York said it would be Nations charter, should ap- it again. Ecuadoran Foreign keep them from entering, ples and norms of interna-
up to other member states prove the expulsion, and Minister Gabriela Sommer- even pushing a large cabi- tional law” and agrees to
to decide on suspending a there should be no veto” feld said her country would net in front of a door. But reparations.q