Organized Crime & Gangs

Rogue Vietnam banker jailed for 30 years over $1b fraud

“A Vietnamese court jailed a tycoon and former banker for 30 years on Monday for his part in a series of elaborate financial scams worth $1.1 billion(Dh4.04 billion) that have become one of the country’s most high-profile banking scandals.Nguyen Duc Kien, 50, founder of Asia Commercial Bank, one of Vietnam’s largest private lenders, was found guilty of a litany of crimes along with seven co-conspirators who used ‘sophisticated and cunning tricks’ to deprive depositors and companies of hundreds of millions of dollars.”

Source: Rogue Vietnam banker jailed for 30 years over $1b fraud | GulfNews.com

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