Prosecutors allege that the network issued over VNĐ1.6 trillion (US$64 million) in loans to about 121,000 borrowers between January 2019 and May 2022, reaping illegal profits of more than VNĐ700 billion ($28 million).
Tiền Giang Province People’s Court on Tuesday began proceedings against 111 defendants, including a deputy director of a law firm, charged with extortion.
The HCM City People’s Court has asked over 35,000 individuals who acquired fraudulent bonds linked to the Vạn Thịnh Phát scheme to confirm their personal information on its official website in preparation for an upcoming trial.
With more than 391 million shares sold at their inflated value, the defendants accumulated more than VNĐ4.8 trillion ($190 million) and embezzled over VNĐ3.6 trillion ($142.4 million) of stock investors, according to the prosecutors.
A local court in Khánh Hoà Province has ruled against a private bank after uncovering multiple unauthorised withdrawals totaling VNĐ46.9 billion (US$1.83 million) from a client's account.
The HCM City People’s Court on Friday rejected the appeal of the former director of Thủ Đức Hospital, upholding his original sentence of 21 years for embezzling VNĐ102.5 billion (US$4 million) through bidding violations and money laundering.
