Asking a real estate agent whether you should buy a home right now is like to asking an alcoholic whether they think you should have a drink lol. Homes in my neighborhood that cost around $450k in sales in 2019 are now going for $800k to $950k. Every seller in my neighborhood is currently making a $350k profit. Simply unreal. In all honesty, deflation is what we require. The only other option is for many people to go bankrupt, which would also be bad for the economy. That is the only way to return to normal.
Home prices will come down eventually, but for now; its best to offset some of your real estate investments and get into the financial markets or gold. The new mortgage rates are crazy, add to that the recession and the fact that mortgage guidelines are getting more difficult. Home prices will need to fall by a minimum of 40% (more like 50%) before the market normalizes. If you are in cross roads or need sincere advise on the best moves to take now its best you seek an independent advisor who knows about the financial markets.
Personally, I can connect to that. When I began working with Sophia Maurine Lanting’, a fiduciary financial counsellor, my advantages were certain. In these circumstances, I would always advise getting professional help so they can steer you through choppy markets and just give you indicators and strategies for knowing when to enter and exit the market.
Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with Melissa Terri Swayne for about five years now, and her performance has been consistently impressive.She’s quite known in her field, look-her up.
In OP’s defense he probably wasn’t forced to study white collar crime 25/8, given extra tutorial classes, and forced to play piano backwards both ways while he did so.
Better maybe, but the glass ceiling holds. (Btw. I'm not approving it, it's just strange that, in the end, you DON'T find all this ambitious, well skilled Asians in the highest seats of power. If you need prove that the system is way more nepotistic than meritocratic, here we go.)
Vietnamese here. She basically stole approximately 6% of Vietnam's GDP last year. But you know what, all of that money is in cash. Can you even imagine??
@@ucNguyen-es1fy that's plain false. there was a single cash bribe that was already $5M. So what are you talking about? There was a lot of cash moving around.
@@Dayvit78 yes, a lot of cash moving around. $5mil, $4mil are still not all her fraud money when the 29 Lieu Giai building she own already worth $500+mil. And she still has a lot more properties.
@@ucNguyen-es1fyIn what way do you think they were giving out the loans? The loans were given to a bank, which on paper amounts to credit but can be transacted as cash. Transfer or cash is essentially the same when you can't freeze the destination bank account.
Your final comment - no. Nobody was looking up to her. There are plenty of successful and popular businesswomen in Vietnam. She was not looked up to, even before her crimes were known. Don't make this about women. It's about one mentally deranged person's unlimited greed and arrogance.
@@Claudia_Ackermann I notice a lot of construction is supported by Mekong River silt being relocated upstream. How many of the Barge Operators are left out when the development schemes fail? The implications of an international delivery route across Cambodia into Laos, appear to be pretty large. Vietnam does appear to have a lot of opportunities for entrepreneurs.
Agree. People white wash the narrative. This case involve a matriarchy but the anti corruption campaign is not gender-specific. She is not representative of Vietnamese women, traditional or modern. She & her clan is just representative of what greed can turn people into. The corrupt nature of the financial market attracts people like her, look at The Wolf of Wall Street, but she is not representative of vietnamese women
She is intelligent and knows how to exploit the lack of government administration by bribing them with sufficient interests. The critical issue remains the absence of proper oversight and corruption that blinds some eyes.
@@danielhutchinson6604. These “Bigger Fish” became jealous of the power over so many government officials that she paid for. These Real Power Brokers decided to take her out.
Vietnamese here. I encourage you to re-examine the fact that this was allowed to happen AT ALL for decades with thousands of officials turning a blind eye to it. The only case that even came CLOSE to it was Burnie Madoff in the corruption scale - but the impact of such cases are so tiny that they hardly impacted the lives of Americans. Would you prefer prevention or crackdown if 11% of your entire net worth is on the line?
@@salamista Nobody can beat the Volume of corruption in US, US cant track trillions $ of budget spending. And bribery is made legal in form of lobbying. So a large portion of corruption in US is not even count as such. At Least VN dont missile strike its own version of Pentagon to hide 1 trillions $ lost of trace in budget.
This video is astonishingly light on details about what this lady did and how she was able to abscond with so much money, making it feel pretty clickbaity. I assume there wasn’t a button somewhere she pushed that just sent money directly to her bank account. I feel like in 9 minutes you spent most of the time saying relatively trivial things and left out the meat of the story I was expecting. Why did the auditing companies fail(another comment says there were two?). There were no protections against simple bribes? How did a non fractional percent of a countries GDP go unaccounted for into a single persons bank account? Pretty terrible video.
Man, the new generation is so lazy. The video's intent wasn't to scrub through the fraud in detail. It was a more general video about the fraud and the potential impact to Vietnam's business environment. You literally could spend 5 seconds and find a detailed article about the fraud. I read one many months ago.
@@HKim0072 I’m not saying I couldn’t look it up, but the title was “The Epic Downfall of Vietnam’s Real Estate Queen” which amounted to a 9 minute video saying-“She embezzled money, they caught her and now she’s on death row and appealing.” I think it’s a fair expectation to think there would be more of what I described from that title. What led to her epic downfall? Is the story just, oh the Vietnamese government thought they’d do some corruption housecleaning and out she popped? I assume there’s more of a story there that a better journalist would be able to tell, though I may be mistaken. That is however, all I gleamed from the video. “She did some corruption. They looked for corruption. She was found and sent to prison.” I guess more details feel relevant, because I’m not seeing anything “epic” there. Hence, the criticism being “clickbaity”. Now if the video was introduced and titled as “vietnams industry of corruption, and why you should care” that would seem to be more fitting. This video had relatively little to do about the topic in the title. Furthermore, “sometimes corruption campaigns are politically motivated” and the other insights this video presented were pretty much either common sense or words to fill up space, which is what I was more annoyed by. A lot of TH-cam is clickbait, fine. This video was just uninteresting and minimally newsworthy to say-businesses are wary of corruption and government crackdowns that create market uncertainty.
@@TTTrouble Again, this new generation has zillions of expectations and wants to give the least amount of effort. It's terrible. I had to scrub through hardback finance journals in the library to find articles during college. Let me guess, you don't have the patience to read actual books either?
@@TTTrouble Because the main audit of SCB and VTP is a private London-based corporation. *Ernst & Young* ever heard of them? One of the big fours audit in the world?
In Brazil we elect them as president because the alternative is even worse and kills 700,000 Brazilians denying science during the pandemics so we think corruption is not THAT bad.
Lavish opulent lifestyle for (clothes, food, homes, etc.). The real estate development was all to cover it up. And she paid a ton of people off to help (family and friends). The country is selling the real estate to get their GDP back because she literally stole from their country’s civilians. She made her own bank (Saigon commercial bank) and was a huge percentage holder, which is illegal. The Vietnamese put their lifesavings in this bank and some may never see it after a lifetime of accumulation. It’s very sad. Initially she got a death sentence, which they reduced to lifetime prison sentence, she wants it reduced…
there is no 'downfall' , is a cheat, scam and prohibitive cahoots are highest echelon and never was a 'estate queen'/// why does people worship such doing and allow laws to be punitive for playing with wordings.
We know Trương Mỹ Lan is not the only person who took 11% gdp in vietnam, the truth lies. Hoping they will be in the court soon, they are affraid of getting caught and went silent after she failed the business.
I doubt it. As she made the most in liquid cash from this criminal activity. The United States would never punish the wealthy unless there is pressure from other wealthy elites to do so.
@cmleonel She was sentenced to death for a fraud at a level she couldn't have been able to pull out unless help by more powerful influential people that managed to get away with demotion or being fired if they received any punishment but she will be made the major example for the entire fraud
@@NathanDrake-hm6li have you been to Vietnam? have you seen their curroption? They even have to bribe police officers, teachers, I mean,,,,,You can't do anything without curropotin in Vietnam,
Vietnam is an amazing country with wonderful people, but it has one serious problem, and most corruption stems from this: its system is rotten to the core.
In terms of rotten system and corruption, none can beat the US no? Billionaires there can exploit everyone they want and always get away, also you call bribery "lobbying".
Pathetic analysis, a blind one with almost no knowledge of communism ruling system where corruptors will sooner or later be caught and shot. While in democracies, the greater the corrupters the higher their status are elevated in soceity as great businessmen!
I cannot speak to FDI in Vietnam, but I can speak to being an employee in its international education market. There is little government oversight in it and what does exist is not terribly effective. An employer and business person within that sector financed their school through what essentially should be seen as a Ponzi scheme. In the end it resulted in the school failing, students without a school and ALL its employees with unpaid salaries, benefits and severance. The penalty for failing to pay salaries: nothing. The penalty for failing to pay severance to over 150 staff: a few thousand dollars. The people that made "loans" to the school are all seeking legal representation. The real winners are the law firms in HCMC. The Department of Education and Training could not save it. The Department of Labor, Invalids and Social Affairs has little power to enforce its rulings, or its at least reluctant to do anything for foreign employees. I am afraid its not a secure bet to work in this country.
Instead of defending bs, you should acknowledge your own lack. I'm Vietnamese, there no real journalism in VN about the government. Everything must be approved or else you get brand as "thành phần phản động"
Vietnamese citizens are strongly supporting the anti-corruption campaign led by the government. As a developing country, we work harder everyday to earn more for our families, for our nation but there are people shamelessly and illegally take advantages of our efforts to do business and enrich themself, we end up poorer. It might sounds normal and legal for those in Western countries but here in Asia, it is a huge violation of human ethics especially against a beautiful and respectful Vietnamese long-lasting-centuries ethical tradition "Thương người như thể thương thân" (Love others as you love yourself, help others as you help yourself).
5:10 This segment is not true. Among 2 Presidents and 3 Deputy Prime Ministers ousted during that time, some of them were knowned to relate to other critical criminal cases in Vietnam: Taking bribes when organizing flights home for Vietnamese abroad during Covid-19, Taking bribes from Viet A company to sell Covid test kits at inflated prices. The photo showned at 5:18 is also from the case of Viet A company. Those cases were not related to the Truong My Lan's fraudulent case.
Timestamps (Powered by Merlin AI) 00:04 - Vietnamese real estate tycoon sentenced to death for $12 billion fraud. 01:14 - Vietnam's real estate boom in 1980s 02:19 - Lan's empire expanded to include a bank through dubious means. 03:26 - Vietnam's anti-corruption campaign intensified after 2016 Party Congress. 04:28 - Truong My Lan's corruption scandal 05:35 - Vietnam's anti-corruption campaign faces criticism 06:42 - Vietnam remains attractive for foreign investment despite challenges. 07:52 - Vietnam attracts major investments from tech giants
They pussied out in the end. Made it a death penalty for the media clicks, and then flipped it to life sentence instead. Seems like her money still works and no surprise there as even the lowest lvl cop is corrupt.
Actually she got multiple charges so there are multiple penalties. 1st is the death penalty, 2nd and 3rd are the life sentences. Basically in the end she would receive the former one
I don't understand why some ppl think "she is talented, unfair"? No one admires her, even when the matter is brought to light. Don’t use 'toxic feminism' here. There are still many successful, ethical and famous businesswomen in VN. Don't show yourself as a saint in this case. Hypocrite The person who was corrupt and took a huge amount of money from the country and destroyed thousands of families? Some people even died because of her actions. Try to put yourself in the shoes of the victims. If your family was also affected by her, would you be sitting here saying such dumb words? There are more talented and virtuous ppl. This is doing well, and don't try to cram in irrelevant things
@@ceeril "the whole party is corrupt" - Literally slap my Grandfather face as he is the chairman of the people Commitee for a long time AND always want the best for the people. Stop taking like you didn't be a corruption person if you have the power, in fact i will give you some proof "Storm Yagi fake bill, scam people donation and use it for themself while the Government get all the blame for where all the money donation go" (whole drama in Vietnam when Vietnam Fatherland Front public the record of donation and a meme that the people even corruption more than the Party itself but always blame the Government and the Party, yes there are some people that receive the people money donation from million to billion, and only send to the Government 10% or even only 0.1% of it 🤡, and that don't include all of the other years when a lot of influencer people want people donate so they can help the "poor" because they don't trust the Government ) Remember, the Party, the Government itself is being made from the People :)
Hey Bloomberg how about: Are the VTP real estate holdings insolvent? Are all of the SCB loans fraudulent, there must have been some loan payment cash flow or was it all a ponzi scheme? Was the $43 billion moved offshore? What happened to the assets of VTP and the SCB performing loans? Did any members of the Vietnam Politburo benefit from the asset liquidation? Oh, that's right their system is NOT transparent.
You mean the downfall of the govt. she moved 40B overseas. She may be corrupt but nonetheless a genius. She is sentenced to life not death. If she is gone no traces can be disclosed if she is alive the govt may have a chance. The govt had a second thought.
There is two trials for her. 1 sentenced to death, 1 sentenced to life. Total is sentenced to death. This is public information for Vietnamese, nothing secret.
She's not a Chinese national, she was born and lived in Vietnam. Chinese as an ethnic groups are presented in most SEA nations and in Vietnam there are also the Thai,Siam,..etc ethnic groups. You're conflating ethnic groups and nationality, and stoking hatred between ethnicity and regions are frown upon in the country
She are not alone on this scrams. VCP support her in these scams and told her not to worries they got her back. Her through she and governments are on this scam together. Today VCP have new leaders with no capital to scams so they prey on each other.
You mean the downfall of the govt. she moved 40B overseas. She may be corrupt but nonetheless a genius. She is sentenced to life not death. If she is gone no traces can be disclosed if she is alive the govt may have a chance. The govt had a second thought to let her live
Đó là số tiền bà ta muốn chiếm từ trong túi người gửi tiền, thật may mắn là không phải từ các dự án phát triển nên ko ảnh hưởng nhiều đến sự phát triển của Việt Nam, giá nhà đất ảnh hưởng nhiều do bà ta thu mua quá nhiều bất động sản, có lẽ do ảnh hưởng từ người chồng của bà ấy, một doanh nhân bất động sản HongKong, bạn thu gom 10 triệu đô la bất động sản ko ảnh hưởng gì đến kinh tế vĩ mô, nhưng 10 tỷ đô thì khác, nhờ bà ấy mà giá bất động sản Việt Nam đã tăng vọt hàng trăm lần, và một thế hệ trẻ bây giờ không có khả năng mua nhà 😢
@@UnknownCharacter-n9v Yes I do. I was being at least partially sarcastic. Why are we more lenient with someone who destroys the lives of hundreds or thousands through theft, than we are with someone who murders once? Personally I think the DP is immoral and only selectively applied. It should be abolished, period.
Did she invest the money in her companies improperly, or just take the money? I doubt it would be possible to just take that amount but if it were back room government deals for fake infrastructure projects or something it might work.
I've been living in Vietnam for 5 years. To anyone and everyone here, corruption/bribery appears to be the norm and not the exception. Opening any business here, you should know who to bribe in order to keep it running.
She was already wealthy and worth hundreds of millions, she is just so greedy. A hundred million U.S dollars is like a billion in Vietnam. She should have left for overseas, having private jets
Can just imagine her trying to bribe her personal guards saying “I’ll give you $5M Cash if you let me go… “ I’m sure they would have been trained to resist in some way
She's Chinese. Her hometown is Guangzhou, China 🇨🇳. Her parents are all Chinese. Her husband is also a Chinese living in Hong Kong. He's the mastermind of the scheme.
Not gonna lie I thought Bloomberg has no Vietnamese correspondents. My bad big dawg but please stop with the Hannah Fry series thing, keep posting vids like this we need reality’s seriousness 😭🙏🏻
Watch more of our News Spotlight documentaries: th-cam.com/play/PLqq4LnWs3olXOhUOv4O6r-9OdWTQN83se.html
Asking a real estate agent whether you should buy a home right now is like to asking an alcoholic whether they think you should have a drink lol. Homes in my neighborhood that cost around $450k in sales in 2019 are now going for $800k to $950k. Every seller in my neighborhood is currently making a $350k profit. Simply unreal. In all honesty, deflation is what we require. The only other option is for many people to go bankrupt, which would also be bad for the economy. That is the only way to return to normal.
Home prices will come down eventually, but for now; its best to offset some of your real estate investments and get into the financial markets or gold. The new mortgage rates are crazy, add to that the recession and the fact that mortgage guidelines are getting more difficult. Home prices will need to fall by a minimum of 40% (more like 50%) before the market normalizes. If you are in cross roads or need sincere advise on the best moves to take now its best you seek an independent advisor who knows about the financial markets.
Personally, I can connect to that. When I began working with Sophia Maurine Lanting’, a fiduciary financial counsellor, my advantages were certain. In these circumstances, I would always advise getting professional help so they can steer you through choppy markets and just give you indicators and strategies for knowing when to enter and exit the market.
I'd be glad to get the help of one, but just how can one spot a reputable one? How did you spot this Sophia ?
Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with Melissa Terri Swayne for about five years now, and her performance has been consistently impressive.She’s quite known in her field, look-her up.
Thanks a lot for this suggestion. I needed this myself, I looked her up, and I have sent her an email. I hope she gets back to me soon.
even in fraud... “there’s always an Asian better than you”
Always Will Be
Just reflects your intelligence.
In OP’s defense he probably wasn’t forced to study white collar crime 25/8, given extra tutorial classes, and forced to play piano backwards both ways while he did so.
😅
Better maybe, but the glass ceiling holds. (Btw. I'm not approving it, it's just strange that, in the end, you DON'T find all this ambitious, well skilled Asians in the highest seats of power. If you need prove that the system is way more nepotistic than meritocratic, here we go.)
Vietnamese here. She basically stole approximately 6% of Vietnam's GDP last year. But you know what, all of that money is in cash. Can you even imagine??
> all of that money is in cash.
No. Mostly it's in loan for development projects. Only $4.3mil was in cash. Vietnam's GDP last year was $433bil
and both auditing companies failed.
@@ucNguyen-es1fy that's plain false. there was a single cash bribe that was already $5M. So what are you talking about? There was a lot of cash moving around.
@@Dayvit78 yes, a lot of cash moving around. $5mil, $4mil are still not all her fraud money when the 29 Lieu Giai building she own already worth $500+mil. And she still has a lot more properties.
@@ucNguyen-es1fyIn what way do you think they were giving out the loans?
The loans were given to a bank, which on paper amounts to credit but can be transacted as cash.
Transfer or cash is essentially the same when you can't freeze the destination bank account.
Your final comment - no. Nobody was looking up to her. There are plenty of successful and popular businesswomen in Vietnam. She was not looked up to, even before her crimes were known. Don't make this about women. It's about one mentally deranged person's unlimited greed and arrogance.
Agreed. There are actual business men and women who are honest and worthy of respect. She is not, and was never one of them.
well said
That's just a typical Western view, it's all about gender 😅
Seriously, those topics are not really talked about here in SEA
@@Claudia_Ackermann I notice a lot of construction is supported by Mekong River silt being relocated upstream.
How many of the Barge Operators are left out when the development schemes fail?
The implications of an international delivery route across Cambodia into Laos,
appear to be pretty large.
Vietnam does appear to have a lot of opportunities for entrepreneurs.
Agree. People white wash the narrative. This case involve a matriarchy but the anti corruption campaign is not gender-specific. She is not representative of Vietnamese women, traditional or modern. She & her clan is just representative of what greed can turn people into. The corrupt nature of the financial market attracts people like her, look at The Wolf of Wall Street, but she is not representative of vietnamese women
She is intelligent and knows how to exploit the lack of government administration by bribing them with sufficient interests. The critical issue remains the absence of proper oversight and corruption that blinds some eyes.
Are bigger "Fish" throwing Her to the yapping News Dogs?
Is there some future promise of freedom if she remains quiet?
@@danielhutchinson6604. These “Bigger Fish” became jealous of the power over so many government officials that she paid for. These Real Power Brokers decided to take her out.
Naha she just didn’t pay her accomplices enough and ended up as pro Vietnam propaganda
she just didn’t pay her accomplices enough and ended
Can we adopt this anti corruption policy to America lol
I think you should look at the anticorruption actions here in the context of the volume of corruption in Vietnam
Cool It with The Anti-Semitic Remarks
Vietnamese here. I encourage you to re-examine the fact that this was allowed to happen AT ALL for decades with thousands of officials turning a blind eye to it. The only case that even came CLOSE to it was Burnie Madoff in the corruption scale - but the impact of such cases are so tiny that they hardly impacted the lives of Americans.
Would you prefer prevention or crackdown if 11% of your entire net worth is on the line?
@@salamista Nobody can beat the Volume of corruption in US, US cant track trillions $ of budget spending. And bribery is made legal in form of lobbying. So a large portion of corruption in US is not even count as such. At Least VN dont missile strike its own version of Pentagon to hide 1 trillions $ lost of trace in budget.
@@Chewviva 🤣🤣
This video is astonishingly light on details about what this lady did and how she was able to abscond with so much money, making it feel pretty clickbaity. I assume there wasn’t a button somewhere she pushed that just sent money directly to her bank account. I feel like in 9 minutes you spent most of the time saying relatively trivial things and left out the meat of the story I was expecting. Why did the auditing companies fail(another comment says there were two?). There were no protections against simple bribes? How did a non fractional percent of a countries GDP go unaccounted for into a single persons bank account?
Pretty terrible video.
Man, the new generation is so lazy. The video's intent wasn't to scrub through the fraud in detail. It was a more general video about the fraud and the potential impact to Vietnam's business environment.
You literally could spend 5 seconds and find a detailed article about the fraud. I read one many months ago.
@@HKim0072 I’m not saying I couldn’t look it up, but the title was “The Epic Downfall of Vietnam’s Real Estate Queen” which amounted to a 9 minute video saying-“She embezzled money, they caught her and now she’s on death row and appealing.”
I think it’s a fair expectation to think there would be more of what I described from that title. What led to her epic downfall? Is the story just, oh the Vietnamese government thought they’d do some corruption housecleaning and out she popped? I assume there’s more of a story there that a better journalist would be able to tell, though I may be mistaken. That is however, all I gleamed from the video. “She did some corruption. They looked for corruption. She was found and sent to prison.” I guess more details feel relevant, because I’m not seeing anything “epic” there. Hence, the criticism being “clickbaity”.
Now if the video was introduced and titled as “vietnams industry of corruption, and why you should care” that would seem to be more fitting. This video had relatively little to do about the topic in the title. Furthermore, “sometimes corruption campaigns are politically motivated” and the other insights this video presented were pretty much either common sense or words to fill up space, which is what I was more annoyed by. A lot of TH-cam is clickbait, fine. This video was just uninteresting and minimally newsworthy to say-businesses are wary of corruption and government crackdowns that create market uncertainty.
@@TTTrouble Again, this new generation has zillions of expectations and wants to give the least amount of effort. It's terrible.
I had to scrub through hardback finance journals in the library to find articles during college.
Let me guess, you don't have the patience to read actual books either?
@@TTTrouble
Because the main audit of SCB and VTP is a private London-based corporation.
*Ernst & Young* ever heard of them? One of the big fours audit in the world?
@@HKim0072 whomp whomp I am such a smartie with my journals and "in my time" haha go get your warm socks and go to sleep
Indonesians be: you actually put corrupt officials in jail??
they assigned her death sentence
In Brazil we elect them as president because the alternative is even worse and kills 700,000 Brazilians denying science during the pandemics so we think corruption is not THAT bad.
Occasionally. It's just recently become a bit more often
@@BagasSept that’s goofy bro the only thing she did in the govs eyes is not pay her accomplices enough
No single person can pull this off........
Stealing 43bn to do what?
Building her ancestral hometown in China
@@danyalfikri2827True 💯 LOL
Built a lot of hotels and luxury office buildings in Hongkong and Singapore
Lavish opulent lifestyle for (clothes, food, homes, etc.). The real estate development was all to cover it up. And she paid a ton of people off to help (family and friends). The country is selling the real estate to get their GDP back because she literally stole from their country’s civilians. She made her own bank (Saigon commercial bank) and was a huge percentage holder, which is illegal. The Vietnamese put their lifesavings in this bank and some may never see it after a lifetime of accumulation. It’s very sad. Initially she got a death sentence, which they reduced to lifetime prison sentence, she wants it reduced…
@@danyalfikri2827she’s not Chinese. Her husband is from HongKong.
there is no 'downfall' , is a cheat, scam and prohibitive cahoots are highest echelon and never was a 'estate queen'/// why does people worship such doing and allow laws to be punitive for playing with wordings.
Because this video made by Bloomberg's dogs. The billionaire were crazy to see a colleague being tried for something billionaires often do.
Corruption truly is a cancer in a country, like in different stages can be detrimental to its country.
somebody didn't get their share of bribe and snitched her 😂 hard to please everyone when some are getting stacks and some only get coins
There are five people like her in my country. They are YET to be punished. Vietnam government seems to be way better than ours.
You can see many Vietnamese’s here won’t believe it. They believe Vietnam is the worst one no matter what.
Vietnam has a toxic culture for blaming its own people, and i guess you could look at it as a way to keep improving. Although, generally it’s bad.
We know Trương Mỹ Lan is not the only person who took 11% gdp in vietnam, the truth lies. Hoping they will be in the court soon, they are affraid of getting caught and went silent after she failed the business.
Guarantee you politicians and govt are involved 100%
She's the patsy left holding the bag for the more powerful people involved
I doubt it. As she made the most in liquid cash from this criminal activity. The United States would never punish the wealthy unless there is pressure from other wealthy elites to do so.
Really? Could I ask what you mean by that?
@cmleonel She was sentenced to death for a fraud at a level she couldn't have been able to pull out unless help by more powerful influential people that managed to get away with demotion or being fired if they received any punishment but she will be made the major example for the entire fraud
@@Deriv44 I think so, a single person cannot steal 16% of the GDP of an entire country, she might just be the scapegoat.
@@cmleonelcorruptions
Economic succes with Corruption is not a succes, Its the downfall of the country and the economie.
if you say that on facebook, you'll be met with "even modern Western countries have corruption"
@@LetsGo-wl5zo it is corrupt everywhere honey ! Even in your own country
@@NathanDrake-hm6liThere's a difference between corruption being everywhere and a system where one individual can steal 6% of a nation's GDP.
@@NathanDrake-hm6li have you been to Vietnam? have you seen their curroption? They even have to bribe police officers, teachers, I mean,,,,,You can't do anything without curropotin in Vietnam,
Vietnam is an amazing country with wonderful people, but it has one serious problem, and most corruption stems from this: its system is rotten to the core.
Poor for so long that greed will easily take over. A lot of people there are NOT nice though. They are very rude.
In terms of rotten system and corruption, none can beat the US no? Billionaires there can exploit everyone they want and always get away, also you call bribery "lobbying".
Pathetic analysis, a blind one with almost no knowledge of communism ruling system where corruptors will sooner or later be caught and shot. While in democracies, the greater the corrupters the higher their status are elevated in soceity as great businessmen!
@@UnknownCharacter-n9v I totally concur 👍
@@UnknownCharacter-n9v Yes, lots of Vietnamese people are extremely rude but there are ones that are amazingly friendly as well.
I cannot speak to FDI in Vietnam, but I can speak to being an employee in its international education market. There is little government oversight in it and what does exist is not terribly effective. An employer and business person within that sector financed their school through what essentially should be seen as a Ponzi scheme. In the end it resulted in the school failing, students without a school and ALL its employees with unpaid salaries, benefits and severance. The penalty for failing to pay salaries: nothing. The penalty for failing to pay severance to over 150 staff: a few thousand dollars. The people that made "loans" to the school are all seeking legal representation. The real winners are the law firms in HCMC. The Department of Education and Training could not save it. The Department of Labor, Invalids and Social Affairs has little power to enforce its rulings, or its at least reluctant to do anything for foreign employees. I am afraid its not a secure bet to work in this country.
Người Việt chúng tôi còn chưa lo được. Tại sao chúng tôi phải lo cho người nước ngoài?
Người Việt chúng tôi còn chưa lo được. Tại sao chúng tôi phải lo cho người nước ngoài?
they always get so greedy… personally id stop at a billion dollars & disappear 🤷♂️
What if she had no option? No way she was in charge of the main plot.
@@emmanuilushka she was fully in control. just some mental issue to keep going at that point.
Look at her face
If you have a billion dollars, you will change your mind and want more and more
If you had one billion dollars, you would tell yourself you'd stop at 2 billion, the 5,then 10....on and on till you get caught
America accusing Vietnam of lacking judicial independence is almost laughable. Like seriously, look inward. 😅
Instead of defending bs, you should acknowledge your own lack. I'm Vietnamese, there no real journalism in VN about the government. Everything must be approved or else you get brand as "thành phần phản động"
@@mxjame546totally agreed!
👏👏👏
Do you have specific examples of America lacking judicial independence?
@@Hairy.Whodini How about Bush jr vs Gore first election? Look into that...
@@mxjame546Tôi là người Việt Nam và tôi tự do làm những điều pháp luật không cấm. Đừng bịa đặt nữa anh bạn!
'Corruption' and 'Debt' is a worldwide problem.
We need this in the USA.
What? Do you need someone in the US that can steal 11% of the country's GDP?
Vietnamese citizens are strongly supporting the anti-corruption campaign led by the government. As a developing country, we work harder everyday to earn more for our families, for our nation but there are people shamelessly and illegally take advantages of our efforts to do business and enrich themself, we end up poorer. It might sounds normal and legal for those in Western countries but here in Asia, it is a huge violation of human ethics especially against a beautiful and respectful Vietnamese long-lasting-centuries ethical tradition "Thương người như thể thương thân" (Love others as you love yourself, help others as you help yourself).
Vietnamese people poor for so long that once they see some money, they can't get enough
5:10 This segment is not true. Among 2 Presidents and 3 Deputy Prime Ministers ousted during that time, some of them were knowned to relate to other critical criminal cases in Vietnam: Taking bribes when organizing flights home for Vietnamese abroad during Covid-19, Taking bribes from Viet A company to sell Covid test kits at inflated prices.
The photo showned at 5:18 is also from the case of Viet A company.
Those cases were not related to the Truong My Lan's fraudulent case.
Timestamps (Powered by Merlin AI)
00:04 - Vietnamese real estate tycoon sentenced to death for $12 billion fraud.
01:14 - Vietnam's real estate boom in 1980s
02:19 - Lan's empire expanded to include a bank through dubious means.
03:26 - Vietnam's anti-corruption campaign intensified after 2016 Party Congress.
04:28 - Truong My Lan's corruption scandal
05:35 - Vietnam's anti-corruption campaign faces criticism
06:42 - Vietnam remains attractive for foreign investment despite challenges.
07:52 - Vietnam attracts major investments from tech giants
Thanks Merlin AI 😊
Don’t understand these greedy people. Lose your lives for what?
They pussied out in the end. Made it a death penalty for the media clicks, and then flipped it to life sentence instead. Seems like her money still works and no surprise there as even the lowest lvl cop is corrupt.
Actually she got multiple charges so there are multiple penalties. 1st is the death penalty, 2nd and 3rd are the life sentences. Basically in the end she would receive the former one
she's still dead af bro, where did u hear that?
what are you talking about? She still is facing the death sentence and is trying to appeal it. They never dropped the death sentence.
một người ngoại quốc ngây thơ😆
I don't understand why some ppl think "she is talented, unfair"? No one admires her, even when the matter is brought to light. Don’t use 'toxic feminism' here.
There are still many successful, ethical and famous businesswomen in VN.
Don't show yourself as a saint in this case. Hypocrite
The person who was corrupt and took a huge amount of money from the country and destroyed thousands of families? Some people even died because of her actions.
Try to put yourself in the shoes of the victims. If your family was also affected by her, would you be sitting here saying such dumb words?
There are more talented and virtuous ppl. This is doing well, and don't try to cram in irrelevant things
The World: On the verge of WW3
Vietnam: So we just jailed our first Billionare
She's not the first
@@youngyang7869 Nguyen Van Quyet is using Chinese money, not his.
Nguyen Phu Trong, please help us remove the corruption in government in Norway!
He dead 3 months ago, the whole party is corrupt, but he might be a lesser one.
Its ironic how he only targets corrupt officials who oppose his faction, turning it into a political purge
Yeah they're late on this story. It's a shame the global news didn't pick up on this story earlier. It's almost as big as Bernie Madoff
@@ceerilsaid by a wise person, lol you made as if you knew many things, dont tell bad about a person you dont know ///
@@ceeril "the whole party is corrupt" - Literally slap my Grandfather face as he is the chairman of the people Commitee for a long time AND always want the best for the people.
Stop taking like you didn't be a corruption person if you have the power, in fact i will give you some proof
"Storm Yagi fake bill, scam people donation and use it for themself while the Government get all the blame for where all the money donation go" (whole drama in Vietnam when Vietnam Fatherland Front public the record of donation and a meme that the people even corruption more than the Party itself but always blame the Government and the Party, yes there are some people that receive the people money donation from million to billion, and only send to the Government 10% or even only 0.1% of it 🤡, and that don't include all of the other years when a lot of influencer people want people donate so they can help the "poor" because they don't trust the Government )
Remember, the Party, the Government itself is being made from the People :)
She's third generation Chinese, her husband is Chinese Hongkong
Vietnam does not recognize Hong Kong
@@Yangpeiling-de-zhangfu What's your point? Everybody knows the existence of Hong Kong, only the 2 nonsense governments think otherwise
@@Yangpeiling-de-zhangfu The Vietnamese people and the entire world recognize Hong Kong....
@@anhbinbaccuc8850I’m Vietnamese, Vietnam recognize HongKong and Taiwan as parts of China.
@ commies recognize that way
Hey Bloomberg how about: Are the VTP real estate holdings insolvent? Are all of the SCB loans fraudulent, there must have been some loan payment cash flow or was it all a ponzi scheme? Was the $43 billion moved offshore? What happened to the assets of VTP and the SCB performing loans? Did any members of the Vietnam Politburo benefit from the asset liquidation? Oh, that's right their system is NOT transparent.
You will find many business tycoon like her in Bangladesh 🇧🇩
In every country not just in Bangladesh,it's also evident here in one of the most corrupt country Philippines
The government knew she was doing it and making money with her...
You mean the downfall of the govt. she moved 40B overseas. She may be corrupt but nonetheless a genius. She is sentenced to life not death.
If she is gone no traces can be disclosed if she is alive the govt may have a chance.
The govt had a second thought.
There is two trials for her. 1 sentenced to death, 1 sentenced to life. Total is sentenced to death. This is public information for Vietnamese, nothing secret.
Bloomberg didn’t explain why SCB had so much funding to lend ? Was it deposit from the customers of SCB?
From deposit and bond.
Fyi she's Chinese not Vietnamese. She changed her name to a Vietnamese name iirc.
Correct! She's Chinese.
That name is not her real name.
She's not a Chinese national, she was born and lived in Vietnam. Chinese as an ethnic groups are presented in most SEA nations and in Vietnam there are also the Thai,Siam,..etc ethnic groups. You're conflating ethnic groups and nationality, and stoking hatred between ethnicity and regions are frown upon in the country
She's Chinese but her nationality is Vietnam actually
Rice is rice. To non asians, it does not matter.
She was born in VN.
She are not alone on this scrams. VCP support her in these scams and told her not to worries they got her back. Her through she and governments are on this scam together.
Today VCP have new leaders with no capital to scams so they prey on each other.
Boycott SCB.
Hi Bloomberg, could you please do a documentary about Nancy Pelosi and her insider trades? Would be interesting. Thanks!
Initially, I was shocked to learn that she was sentenced to death for business frauds. But when you learn the extent of her crimes…
You mean the downfall of the govt. she moved 40B overseas. She may be corrupt but nonetheless a genius. She is sentenced to life not death.
If she is gone no traces can be disclosed if she is alive the govt may have a chance.
The govt had a second thought to let her live
Actually she was mega rich even before this massive fraud but her greed known no bound
when the tide goes out..................
People often talk about war crimes, yes ladies and gentlemen, this is an economic crime
Đó là số tiền bà ta muốn chiếm từ trong túi người gửi tiền, thật may mắn là không phải từ các dự án phát triển nên ko ảnh hưởng nhiều đến sự phát triển của Việt Nam, giá nhà đất ảnh hưởng nhiều do bà ta thu mua quá nhiều bất động sản, có lẽ do ảnh hưởng từ người chồng của bà ấy, một doanh nhân bất động sản HongKong, bạn thu gom 10 triệu đô la bất động sản ko ảnh hưởng gì đến kinh tế vĩ mô, nhưng 10 tỷ đô thì khác, nhờ bà ấy mà giá bất động sản Việt Nam đã tăng vọt hàng trăm lần, và một thế hệ trẻ bây giờ không có khả năng mua nhà 😢
Chính xác.bạn có thấy giá nhà đất đang tăng chóng mặt ko với cả lạm phát nữa.Tôi nghĩ 1 phần do bà ta
The only mistake the politicians made they didn't recruit her in their team
Death penalty for serious financial crimes. I wonder whether that would fly I the United States.
You understand there are still states that uphold the death sentence, right?
@@UnknownCharacter-n9v Yes I do. I was being at least partially sarcastic. Why are we more lenient with someone who destroys the lives of hundreds or thousands through theft, than we are with someone who murders once? Personally I think the DP is immoral and only selectively applied. It should be abolished, period.
@@UnknownCharacter-n9v The question isn't if there's a death penalty or not, the question is what crime is subject to death sentence.
In our country people like her has a special place where they have full support of army, judiciary and politicians.
Also women can be corrupted
its so cringe watching something "educational" but its full of american propaganda
As usual, the US criticises anything another country does. Presumably because its own current political environment is so stable and flawless.
What a L take
Yet here in the US embezzlers just hire attorneys and move to Florida. 🤦🏾♀️
At 8:23, where is that? Never seen it before but it looks atrocious and wanna do more research.
This is a coal mine in Ha Lam, Cam Pha, Quang Ninh.
She is a smart woman; I hope she go to jail instead. Mike from Japan
Did she invest the money in her companies improperly, or just take the money? I doubt it would be possible to just take that amount but if it were back room government deals for fake infrastructure projects or something it might work.
And this greedy lady instead of worrying about her life. She actually asked for her properties, purses, back from confiscation.😂😂😂.
I've been living in Vietnam for 5 years. To anyone and everyone here, corruption/bribery appears to be the norm and not the exception. Opening any business here, you should know who to bribe in order to keep it running.
Lan won't be killed because US are interested in her.
She was already wealthy and worth hundreds of millions, she is just so greedy. A hundred million U.S dollars is like a billion in Vietnam. She should have left for overseas, having private jets
"Court in a communist country." What a joke
How did she own 95% shares of SCB while the limit is 5% by law.Something shady.
She created many fake entities and those entities can own 5% too .
she paid over 30 other people to legally sign her shares in SCB
What i saw is Lan is a talent person in business!
PROTECT HOMELAND AND LOVE ONES!
Das vietnamesische Regierungssystem ist dasselbe ,mit ein Anderer fertig machen und keine anti Korrupt ! Listigen und Bühne
Did not feel sorry for her whatsoever.
If she commits fraud it’s bad
we need this in the us
No more ostrich leather for her.
A country poor for so long that once they get a little money, it is never enough.
Michelle, yo, needs to play her in a big screen movie. It would be great.
Woman with the purple/black top speaks like a robot
truly a genius
Communist capitalism runs rampant. And the Western "democracies" become oligarchies also.
The rich are always with us.😢
Currency rate still at stable after all.
I wonder how bad this is comparing to Madoff ?
Can just imagine her trying to bribe her personal guards saying “I’ll give you $5M Cash if you let me go… “ I’m sure they would have been trained to resist in some way
In Vietnam war, CIA usually said something like this to VietCong , and the result is only one Vietnam today.
IT’S NOT THE VIETNAM WAR!
Truly insane!!
something told me that she's just scapegoat for some peoples
Abysmal Govt
Money is the root of all evil here in earth...
not the money but the love of money is the root of all evil
@@marhipolitoExactly and it is the LOVE of money not the money itself.
She created her own circular economy.
Only 12 billion ? I thought it was some where near $40 billion total ?
That's a bit harsh a death sentence over money like... really??!?
Money is the root of all evils
Being broke leaves you homeless though
How's that compare to the USA?
She's Chinese. Her hometown is Guangzhou, China 🇨🇳. Her parents are all Chinese.
Her husband is also a Chinese living in Hong Kong.
He's the mastermind of the scheme.
SHAME ON cHINESE AND cHINA!!! So typical of your usual suspects.
Any Corrupt behavior in the world can be genetically traceable to China.
@@luongdo8938huh
All that money and still looked awful 😮😊
Not gonna lie I thought Bloomberg has no Vietnamese correspondents. My bad big dawg but please stop with the Hannah Fry series thing, keep posting vids like this we need reality’s seriousness 😭🙏🏻
Mastermind? Just a puppet.
Finally, a foreign documentation that can correctly pronounce the vietnamese names. Lol
The same scheme happening in most countries especially developing countries
Imagine if the United States did the same thing to bankers who cause the housing crash in 2008
Word to the wise never invest in any foreign countries and with anyone who makes videos on TH-cam
Scammer not a Queen
Proper sentence thank you
I have no problem switching places with her