Following up on April 11's "Vietnamese Woman Sentenced To Death For $44 Billion Fraud" with our insightful introduction: "That's a big fraud." and included the factoid:
....According to prosecutors, over a period of three years from February 2019, she ordered her driver to withdraw 108 trillion Vietnamese dong, more than $4bn (£2.3bn) in cash from the bank, and store it in her basement.
That much cash, even if all of it was in Vietnam's largest denomination banknotes, would weigh two tonnes....
From Asia Financial, June 4:
The country’s central bank has provided a huge sum to protect Saigon Joint Stock Commercial Bank after it was rocked by a record financial fraud
Vietnam’s massive bailout of the Saigon Joint Stock Commercial Bank (SCB) has escalated to $24.5 billion – thanks to special loans equivalent to 6% of Vietnam’s 2023 gross domestic product.
Over the past two months the country’s central bank has provided a further $1.2 billion to the distressed SCB, according to a bank document seen by Reuters, in a bid to protect depositors’ funds.
In April the central bank was reported to have mounted an “unprecedented” rescue of SCB, a lender engulfed in the nation’s biggest financial fraud, which a source at that time said would collapse without the funding....
....MUCH MORE
The Vietnamese take an approach to dealing with banker transgressions different from that favored by President Obama's Department of Justice and Attorney General Eric Holder during/after the Great Financial crisis of 2008 - 2009.
Here's a post from October 2017:
Meanwhile, In Vietnam: 51 Bankers Found Guilty, Sentences From Life In Prison to Death
