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A court in the Central Highlands on Thursday gave the death sentence to a Vietnam Development Bank (VDB) executive and several life sentences to others involved in a hundred-million-dollar scam.
The defendants had taken advantage of credit privileges given to exporters to fake documents and borrow more than VND2 trillion (US$94.88 million) from VBD’s Central Highlands branch for Dak Nong and the neighboring Dak Lak Province, as well as Nam A bank at its Hanoi branch, and the Ho Chi Minh City-based Orient Commercial Bank.
Vu Viet Hung, 57-year-old former director of the VDB branch, was punished on three charges - a death sentence for taking bribes in the form of a BMW car worth 3.2 billion in late 2009, a life sentence for fraud, and 20 years in jail for violating lending regulations. His borrowers, Cao Bach Mai and Tran Thi Xuan, former directors of two local companies, both received life sentences on fraud and bribery charges.
Assuming you would like to see similar actions taken against fraudulent banksters in the west, how would you suggest going about it? Voting? Petitions? Picketing?
For myself, I know only one thing will work to stop these thieves, and we don't collectively have the nuts to do it because they keep giving us the crumbs off their table. If the crumbs quit falling they already have the systems in place to deal with the unwashed masses anyways. It's now or never, and I don't see us making a move in time.
Good riddance to bad bankers. Normally I am not in favor of the death penalty but this case is an exception to that rule. My question to ATS, is corrupt banking a capital offense in your opinion?
Smart money says a soft banker is clever enough to work himself into good enough shape to have a fighting chance in the arena.
reply to post by Snarl
As for me I don't want them to have a chance. Those sneaky SOB's will find a way to weasel out of gladiator school and the arena. Probably using the money they stole from widows and orphans.