[Script Info]
Title: 
[Events]
Format: Layer, Start, End, Style, Name, MarginL, MarginR, MarginV, Effect, Text
Dialogue: 0,0:00:03.96,0:00:06.80,Default,,0000,0000,0000,,Hello, I'm Regina Vaid and welcome to this hour.
Dialogue: 0,0:00:06.80,0:00:08.40,Default,,0000,0000,0000,,In the past few minutes,
Dialogue: 0,0:00:08.40,0:00:12.86,Default,,0000,0000,0000,,a court in Vietnam has sentenced a wealthy proper developer to death
Dialogue: 0,0:00:12.86,0:00:15.72,Default,,0000,0000,0000,,for defrauding a bank of billions of dollars.
Dialogue: 0,0:00:15.72,0:00:18.36,Default,,0000,0000,0000,,67-year-old Truong My Lan was found guilty
Dialogue: 0,0:00:18.36,0:00:20.64,Default,,0000,0000,0000,,of embezzlement bribing State officials
Dialogue: 0,0:00:20.64,0:00:23.68,Default,,0000,0000,0000,,and violating Bank lending regulations
Dialogue: 0,0:00:23.68,0:00:27.26,Default,,0000,0000,0000,,after she used her hidden ownership of the Saigon Commercial Bank
Dialogue: 0,0:00:27.26,0:00:31.92,Default,,0000,0000,0000,,to channel $44 billion of loans to her own companies.
Dialogue: 0,0:00:31.92,0:00:32.61,Default,,0000,0000,0000,,It's been described
Dialogue: 0,0:00:32.61,0:00:36.36,Default,,0000,0000,0000,,as one of the greatest Brank frauds in history.
Dialogue: 0,0:00:36.36,0:00:39.24,Default,,0000,0000,0000,,Well, for more on this, we can go straight to Bangkok
Dialogue: 0,0:00:39.24,0:00:40.96,Default,,0000,0000,0000,,and join our Southeast Asia
Dialogue: 0,0:00:40.96,0:00:43.19,Default,,0000,0000,0000,,correspondent Jonathan Head.
Dialogue: 0,0:00:43.19,0:00:45.40,Default,,0000,0000,0000,,First of all, Jonathan, if you could just tell us
Dialogue: 0,0:00:45.40,0:00:48.25,Default,,0000,0000,0000,,a little bit more about what the court said today
Dialogue: 0,0:00:48.25,0:00:50.56,Default,,0000,0000,0000,,and the background to this case.
Dialogue: 0,0:00:50.56,0:00:53.36,Default,,0000,0000,0000,,Well the the Court's been giving enormous amounts of detail
Dialogue: 0,0:00:53.36,0:00:55.76,Default,,0000,0000,0000,,about this case.
Dialogue: 0,0:00:55.76,0:00:57.57,Default,,0000,0000,0000,,Through its five weeks,
Dialogue: 0,0:00:57.57,0:01:00.12,Default,,0000,0000,0000,,so everyone in Vietnam knows a lot about it,
Dialogue: 0,0:01:00.12,0:01:01.92,Default,,0000,0000,0000,,not that's quite unusual there.
Dialogue: 0,0:01:01.92,0:01:02.76,Default,,0000,0000,0000,,They've wanted the public
Dialogue: 0,0:01:02.76,0:01:04.23,Default,,0000,0000,0000,,to know about this case.
Dialogue: 0,0:01:04.23,0:01:06.66,Default,,0000,0000,0000,,It is extraordinary the amounts of money
Dialogue: 0,0:01:06.66,0:01:08.32,Default,,0000,0000,0000,,are absolutely sterling.
Dialogue: 0,0:01:08.32,0:01:11.49,Default,,0000,0000,0000,,We're talking about a significant junk of Vietnam's GDP
Dialogue: 0,0:01:11.49,0:01:13.27,Default,,0000,0000,0000,,that this woman was able to siphon off
Dialogue: 0,0:01:13.27,0:01:17.59,Default,,0000,0000,0000,,over 11 years of through these secretly channeled loans
Dialogue: 0,0:01:17.59,0:01:19.51,Default,,0000,0000,0000,,that went through a whole bunch of front companies
Dialogue: 0,0:01:19.51,0:01:21.61,Default,,0000,0000,0000,,and proxies to her own companies.
Dialogue: 0,0:01:21.61,0:01:24.02,Default,,0000,0000,0000,,The prosecutors believe that
Dialogue: 0,0:01:24.02,0:01:27.50,Default,,0000,0000,0000,,of that 44 billion perhaps 27 billion dollars
Dialogue: 0,0:01:27.50,0:01:29.29,Default,,0000,0000,0000,,may never be recovered.
Dialogue: 0,0:01:29.29,0:01:31.02,Default,,0000,0000,0000,,That is a staggering loss
Dialogue: 0,0:01:31.02,0:01:34.31,Default,,0000,0000,0000,,and will be very very tough for the State Bank
Dialogue: 0,0:01:34.31,0:01:37.40,Default,,0000,0000,0000,,to make up in terms of saving the bank.
Dialogue: 0,0:01:37.40,0:01:41.45,Default,,0000,0000,0000,,Really the authorities have sort of blamed Truong My Lan
Dialogue: 0,0:01:41.45,0:01:43.24,Default,,0000,0000,0000,,and have talked about the way
Dialogue: 0,0:01:43.24,0:01:44.76,Default,,0000,0000,0000,,in which she was bribing officials
Dialogue: 0,0:01:44.76,0:01:48.11,Default,,0000,0000,0000,,and the kind of sophistication of this network
Dialogue: 0,0:01:48.52,0:01:52.64,Default,,0000,0000,0000,,and really it is part of an ongoing anti-corruption campaign
Dialogue: 0,0:01:52.64,0:01:54.15,Default,,0000,0000,0000,,that's been going for several years
Dialogue: 0,0:01:54.15,0:01:55.54,Default,,0000,0000,0000,,led by the communist authorities
Dialogue: 0,0:01:55.54,0:01:57.49,Default,,0000,0000,0000,,whose say they're determined to stamp it out
Dialogue: 0,0:01:57.49,0:01:58.86,Default,,0000,0000,0000,,but of course it does raise a lot of questions
Dialogue: 0,0:01:58.86,0:02:00.74,Default,,0000,0000,0000,,which is how was it that this woman.
Dialogue: 0,0:02:00.74,0:02:01.96,Default,,0000,0000,0000,,She's very high-profile.
Dialogue: 0,0:02:01.96,0:02:04.88,Default,,0000,0000,0000,,She's one of the biggest property owners in Vietnam.
Dialogue: 0,0:02:04.88,0:02:07.88,Default,,0000,0000,0000,,How was she able to do that for 11 years
Dialogue: 0,0:02:07.88,0:02:09.44,Default,,0000,0000,0000,,and of course officially the authorities say
Dialogue: 0,0:02:09.44,0:02:11.15,Default,,0000,0000,0000,,well she was paying off this person and that
Dialogue: 0,0:02:11.15,0:02:11.85,Default,,0000,0000,0000,,and hiding this and that
Dialogue: 0,0:02:11.85,0:02:13.16,Default,,0000,0000,0000,,but it is extraordinary that
Dialogue: 0,0:02:13.16,0:02:14.09,Default,,0000,0000,0000,,it went on for 11 years
Dialogue: 0,0:02:14.09,0:02:14.65,Default,,0000,0000,0000,,without being stopped
Dialogue: 0,0:02:14.65,0:02:17.26,Default,,0000,0000,0000,,and I think those questions still hang over
Dialogue: 0,0:02:17.26,0:02:20.24,Default,,0000,0000,0000,,whether the Vietnamese authorities are capable
Dialogue: 0,0:02:20.24,0:02:22.88,Default,,0000,0000,0000,,of reigning in this kind of fraud.
Dialogue: 0,0:02:22.88,0:02:25.36,Default,,0000,0000,0000,,And Jonathan you say that this was a trial
Dialogue: 0,0:02:25.36,0:02:27.86,Default,,0000,0000,0000,,that was followed by so many people in Vietnam
Dialogue: 0,0:02:27.86,0:02:30.32,Default,,0000,0000,0000,,and Truong My Lan is a well-known
Dialogue: 0,0:02:30.32,0:02:31.95,Default,,0000,0000,0000,,property developer in the country
Dialogue: 0,0:02:31.95,0:02:34.20,Default,,0000,0000,0000,,but now she faces the death penalty.
Dialogue: 0,0:02:34.20,0:02:36.88,Default,,0000,0000,0000,,That itself is extraordinary.
Dialogue: 0,0:02:36.88,0:02:39.08,Default,,0000,0000,0000,,Normally the death penalty is not usually
Dialogue: 0,0:02:39.08,0:02:40.41,Default,,0000,0000,0000,,handed down on women
Dialogue: 0,0:02:40.41,0:02:42.87,Default,,0000,0000,0000,,but I think this case was so exceptional
Dialogue: 0,0:02:42.87,0:02:44.74,Default,,0000,0000,0000,,in terms of its scale and the damages
Dialogue: 0,0:02:44.74,0:02:46.64,Default,,0000,0000,0000,,it's done to Vietnam's finances.
Dialogue: 0,0:02:46.64,0:02:47.64,Default,,0000,0000,0000,,They probably felt
Dialogue: 0,0:02:47.64,0:02:49.12,Default,,0000,0000,0000,,they needed to make an example of her.
Dialogue: 0,0:02:49.12,0:02:51.28,Default,,0000,0000,0000,,They may also be trying to encourage her
Dialogue: 0,0:02:51.28,0:02:54.58,Default,,0000,0000,0000,,to give as much money back as they can get her to do.
Dialogue: 0,0:02:54.58,0:02:55.48,Default,,0000,0000,0000,,This is something
Dialogue: 0,0:02:55.48,0:02:58.48,Default,,0000,0000,0000,,the other 80 defendants in court today
Dialogue: 0,0:02:58.48,0:02:59.34,Default,,0000,0000,0000,,have largely done.
Dialogue: 0,0:02:59.34,0:03:01.03,Default,,0000,0000,0000,,They're all more minor, of course,
Dialogue: 0,0:03:01.03,0:03:02.08,Default,,0000,0000,0000,,but these are all the people
Dialogue: 0,0:03:02.08,0:03:03.69,Default,,0000,0000,0000,,accused of conspiring with her
Dialogue: 0,0:03:03.69,0:03:06.33,Default,,0000,0000,0000,,including, for example, a Chief Inspector of the State Bank
Dialogue: 0,0:03:06.33,0:03:08.57,Default,,0000,0000,0000,,who was bribed 5 million dollar
Dialogue: 0,0:03:08.57,0:03:09.64,Default,,0000,0000,0000,,according to prosecutors.
Dialogue: 0,0:03:09.64,0:03:11.29,Default,,0000,0000,0000,,In order to look the other way,
Dialogue: 0,0:03:11.29,0:03:14.01,Default,,0000,0000,0000,,they've all pleaded guilty and offered to bring back
Dialogue: 0,0:03:14.01,0:03:15.39,Default,,0000,0000,0000,,as much money as they can.
Dialogue: 0,0:03:15.39,0:03:16.96,Default,,0000,0000,0000,,I think the state believes that
Dialogue: 0,0:03:16.96,0:03:19.34,Default,,0000,0000,0000,,Truong My Lan must have far more assets
Dialogue: 0,0:03:19.34,0:03:21.10,Default,,0000,0000,0000,,that she can return to the state
Dialogue: 0,0:03:21.10,0:03:22.80,Default,,0000,0000,0000,,to try and make up this massive hole
Dialogue: 0,0:03:22.80,0:03:24.52,Default,,0000,0000,0000,,in this bank's finances.
Dialogue: 0,0:03:24.52,0:03:27.12,Default,,0000,0000,0000,,Okay, Jonathan Head, in Bangkok
Dialogue: 0,0:03:27.12,0:03:29.12,Default,,0000,0000,0000,,watching that huge trial in Vietnam
Dialogue: 0,0:03:29.12,0:03:30.84,Default,,0000,0000,0000,,and that verdict for thank you very much
Dialogue: 0,0:03:30.84,0:03:32.60,Default,,0000,0000,0000,,and Jonathan's written an analysis piece
Dialogue: 0,0:03:32.60,0:03:34.55,Default,,0000,0000,0000,,on the BBC News website with more background too.