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submitted 2 months ago by Yuritopiaposadism@hexbear.net to c/urbanism@hexbear.net

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[-] underisk@hexbear.net 43 points 2 months ago

In the April conviction, she was found to have orchestrated financial fraud amounting to $12.5 billion for illegally controlling a major bank allowing loans that resulted in losses of $27 billion, according to state media reports.

I don't know what "illegally controlling a major bank" means or how she pulled it off but that's what AP news says about it.

[-] hexaflexagonbear@hexbear.net 16 points 2 months ago

Probably failing to report a conflict of interest that would’ve made her position impossible?

[-] underisk@hexbear.net 55 points 2 months ago

wikipedia has summarized the situation in a way neither the fortune article nor that AP news article could with a single paragraph:

In October 2022, she was arrested for using fake loan applications to embezzle more than US$12.5 billion from Sai Gon Joint Stock Commercial Bank, which she controlled through more than two dozen middlemen. This caused a bank run.