Vietnam’s Crackdown on Corruption
Vietnam’s top soft drinks tycoon, Tran Qui Thanh, was sentenced to eight years in prison for a $40-million fraud case. This is part of the country’s extensive efforts to combat corruption.
Case Details
- Tran Qui Thanh and his two daughters were found guilty of scamming investors over loans issued in 2019 and 2020.
- Thanh, the chairman of Tan Hiep Phat, was accused of masterminding scams to appropriate assets put up as collateral against loans.
- Even when borrowers repaid the money with interest, Thanh refused to return the assets on various pretexts.
Sentences
Tran Qui Thanh was sentenced to eight years in prison, while his daughter Tran Uyen Phuong received a four-year jail term. Younger daughter Tran Ngoc Bich was given a suspended three-year sentence.
Company Background
Tan Hiep Phat, one of Vietnam’s largest beverage companies, is known for its range of bottled tea and energy drinks.
Final Words and Verdict
In his final statement, Thanh expressed regret and readiness to take responsibility for his actions. The judge emphasized that the defendants’ crimes had caused danger to society.
Other High-Profile Cases
Truong My Lan, a property tycoon, was recently sentenced to death for a massive swindle. Do Anh Dung, a luxury property tycoon, received eight years in prison for a bond scam.