According to reports in thanhniennews.com 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 VND ( Vietnamese Dong) 3.2 billion in late 2009, a life sentence for fraud, and 20 years in jail for violating lending regulations.
Nguyen Thi Kim Loan, another company director, received 20 years in jail for fraud because she helped Mai open the fake company and also borrowed VND200 billion from OCB on Mai and Xuan’s behalf.
Truong Dinh Hai, former director of the Hanoi branch of Nam A bank, ended up with ten years, Ta Thi Xuan Y, former head of the customers service department at Ho Chi Minh City office of Orient Commercial Bank (OCB) eight years.
If Vu Viet Hung was working in the city of London, there is no doubt in my mind that he would have probably received a banking bonus with a pat on his back. Just goes to show that these banksters get away with their crimes only in the West! Actually, now that I’m thinking about it, why is it that nobody in the City Of London has been prosecuted for fixing the LIBOR rates??
Recap: The banks rigged the London interbank offered rate, or Libor, from August 2007 to at least mid-2011. The Libor affects trillions of dollars in contracts around the world, including mortgages, bonds and consumer loans.