Vietnam Construction Bank scandal
A landmark decision is due on 9th September in the case of Pham Cong Danh, former Chairman of the troubled Vietnam Construction Bank. Danh and three of his fellow Directors stand accused of stealing nearly one billion US dollars between 2013 and 2014. The court ñ and a large portion of Vietnamese media ñ have learned about missing paper trails, mysterious investments and a general lack of regulation. Investors in the bank are upset and angry: their money has seemingly vanished.
The most notable victim in the case is Tran Ngoc Bich, youngest daughter of Vietnamese drinks magnate, Dr. Thanh and heir to part of the Tan Hiep Phat empire. Bich is typical of the victims in this case but sadly, has lost the largest investment.