Thank you for providing this interesting story taking place in Vietnam. Please keep us up to date as this fraud unfolds. Great information as always Ken! 👍
Before this informative video, my wife (Vietnamese) mentioned this caper to me from her channel that she subscribes to. Now it is crystal clear to me, thanks to you, Duong. I will be looking forward to continued updates here. Keep us posted.
It all boil down to one word. GREED. It has blinded her senses and everyone related to this scandal. Who would argue with money. The more the better. It was never enough for her.
Unfortunately it’s a moral issue that’s more common in developing countries. Even the U.S. still have bank run left and right, Silicon Valley bank for example. However, over time, Vietnam regulators will be able to do better job, just like the U.S. banking regulators. When a country opens up for foreign investors, some of them will fail because of the inherent risks of doing businesses (anywhere). Vietnam is a great investment market opportunities if not the best. Thanks Ken for bringing up transparency on ground for us all.
this type of FRAUD is the norm in USA. They used "foundations", Off shore companies, trust, etc to own shares of a bank, but its the same play. If you want to learn the MOST corrupt practises, join a Private Bank in USA. The world's best crooks.
Agreed ! I love vietnam & the Vietnamese people. Unfortunately, at the core of the countries economic organizing principals is coercive control. The roots are in communism. Corruption is an absolute eventuality. IMO.
In Vietnam there is a saying: Money can't buy everything but with lots of money you can buy anything. The whole scandal is rooted from the theme of money power. With lots of money it was used to buy government power to control the country financial economy through banking system and commercial complex. Once the system was established, money kept multiplying year after year non-stop. The scandal was working, thriving as long as the economy was growing until the economy coming to a halts, then it stopped working.
Having been someone who lived in Vietnam and also was ripped off by the corrupt government and people, I'm enjoying this story a bit too much. LOL. The whole country business environment is a snake pit.
About 10 times bigger than Malaysia's 1MDB scandal. Moreover, this is a typical incident in Vietnam's property developers and banks. So, similar cases could be exposed anytime.
Very good video. Mr Ken Duong is a good presenter with clear informative delivery. For his film idea I would suggest looking at 'The Big Short' and 'Margin Call' films that somehow present complex dry financial scam stories in a compelling and entertaining style that engages an audience not familiar with the technicalities of the financial world. Sounds like, according to Ken, The woman was a front for someone working behind the scenes and it's curious and a shame that this kind of financial malfeasance could happen in Vietnam.
Usually financial undertaking of this magnitude in Vietnam are not stand alone, family, corporate or conglomerate similar to those in other southeast Asian countries. For this to happen, it is possible the connections can go all the way to the highest government officials and don’t forget the generals as well.
There could be an external hand in this scam. Vietnam is a fast growing manuf export economy. The country that feels most uncomfortable with this spectacular growth certainly would have rigged or played this game by using their pawns. Sad and debilitating for growth of this asian tiger
This was along my line of thinking. I honestly felt they were caught up the nair and someone was casting the bait. They fell hard for the bait. Sad situation all the way around. Thank you for the video. It was filled with fresh intelligent ideas. Well done.
When the bank run at the SCB happenes in the adapted biopic movie "Take the money and run while sleeeeeepinng" - by Tamer needs to play. You just cut to her being taken in while Vietnamese ppl fight for their money.
Ngày 15/9/2023, Cơ quan CSĐT Bộ Công an đã ra Lệnh kê biên tài sản số 239/LKB-CSKT-P2 đổi với tài sản tại huyện Bến Lức, tỉnh Long An do bà Phạm Thị Thu Đông (được Tập đoàn Vạn Thịnh Phát giao đứng tên nhận chuyển nhượng tài sản)
Ngày 04/7/2023, Cơ quan CSĐT Bộ Công an đã ra 131 Lệnh kệ biên tài sản từ số 51 đến số 181/LKB-CSKT-P10 đối với 610 Bất động sản thể hiện tại 612 bản chính Giấy chứng nhận QSDĐ và 02 bản chính Giấy chứng nhận sở hữu công trình xây dựng đã thu giữ. More than 600 cái sổ đỏ😍😍😍
Hey Ken, great video. Are you writing your own scripts, or are you more or less talking freely? I think you have a good way to communicate complex topics.
All socialist governments wanted to implement or copy the capitalist way of business but ONE thing they dont know is what is check and balance is and there is required to be oversight involved.
- Ngày 8/11/2023, Cơ quan CSĐT Bộ Công an đã ra Lệnh kê biên tài sản số 317,318/LKB-CSKT-P2 đối với 03 tài sản nhà đất do Công ty Cổ phần T&H Hạ Long sở hữu liên quan trực tiếp đến bị can Trương Mỹ Lan.
Ngày 11/8/2023, Cơ quan CSĐT Bộ Công an đã ra Lệnh kê biên tài sản số 219/LKB-CSKT-P10 đối với tài sản tại số 19-21-23-25 Nguyễn Huệ, phường Bến Nghé, Quận 1, Hồ Chí Minh (không thu giữ Giấy chứng nhận QSDĐ)
Our law firm do have malpractice insurance that covers all our four offices worldwide. Trust is built on relationship and successful cases we worked on for over 15 years.
- Ngày 21/8/2023, Cơ quan CSĐT Bộ Công an đã ra Lệnh kê biên tài sản số 221/LKB-CSKT-P10 đối với tài sản tại số 232 Trần Hưng Đạo, phường 11, quận 5, TP. Hồ Chí Minh
can the peoples go to ms jun prison to get their monies? when she goes out prison she can does happy masseges again and get more monies to repay the peoples her stolen monies.
Thanks for your videos, how big the scandal was ? please be compared or put it in a perspective so that ordinary Vietnamese person can relate it. Regarless of how good your video is, without relating to the salary of an average Vietnamese, all of your explaination would be in vain.
Could you please name one good ordinary person super riches build their empire without corruption without government officers involved in Vietnam…I’m sure none
nhượng tài sản) - Ngày 19/10/2023, Cơ quan CSĐT Bộ Công an đã ra 33 Lênh kê biên tài sản từ số 241 đến số 273/LKB-CSKT-P2 đối với 620 Bất động sản thể hiện tại 452 bản chính Giấy chứng nhận QSDĐ; 21 Hợp đồng công chứng mua một số phần đất tại 21 bản photo Giấy chứng nhận QSDĐ và 147 bản chính thoa thuận bồi thường các thửa đất thuộc dự án Phước Kiền, huyện Nhà Bè, TP. Hồ Chí Minh trong đó có tài sản tại số 110-112 Võ Văn Tần, quận 3, TP. Hồ Chí Minh do bị can Trương Mỹ Lan giao cho Công ty Cổ phần Minerva đứng tên sở hữu Cơ quan điều tra chưa thu giữ được bản chính Giấy chứng nhận QSDĐ
She owned 95% of SCB which is illegal under VN law 5% max. She used her ownership to influence the bank to loan out money to multiple entities, some were ghost companies, all owned and controlled by her or her relatives/children. That was how she siphoned the bank's deposits to her pockets.
Through various means that are too detailed to list. Fake loan documents to extract the funds. Inter company electronic trannsfers. Setting up Holding Accounts. Sweep Accounts, the list goes on and on.
She withdraws money that is deposited into the bank saving accounts. Keep in mind this bank has always had relatively high interest rates on saving accounts to maximize deposits.
First, she acquired shares of 3 banks that were in bad business condition, then she merged all 3 banks into 1 main bank and mobilized capital from people's deposits ( People do not know that their money is being illegally appropriated). Next, she opened hundreds of different ghost companies and put people close to her as senior leaders of this bank, then created fake documents to borrow huge amounts of money from this bank without any financial resources. guaranteed assets through these leaders. After inspections by state bank officials, she bribed millions of dollars so that her bank would have a good report. Thus, nearly 44 billion USD was withdrawn from the bank to invest in real estate in Vietnam and abroad. After many years of rude business, in the end there was no money to pay the people and the police investigated and she and her accomplices were arrested for prosecution...Hope you will understand a part because there are many Many details are being investigated.
Is truong my lan in control ? Uh suuuu ? Only whom has the power to do it ? These people are scapegoats? When comes to money and power, only people has power to manipulate the game. Human loves money and power......never enough....only near death then everything is nothing.
is he a news anchor? so he wants us not invest in Vietnam. Thank you for the info; now as a Canadian; we will not invest in Vietnam because of this news.
Locked up along all involved family members. But their scam ran through years, so reclaiming the money will require a lot of effort and international cooperation
Thank you for providing this interesting story taking place in Vietnam. Please keep us up to date as this fraud unfolds. Great information as always Ken! 👍
Before this informative video, my wife (Vietnamese) mentioned this caper to me from her channel that she subscribes to. Now it is crystal clear to me, thanks to you, Duong. I will be looking forward to continued updates here. Keep us posted.
It all boil down to one word. GREED. It has blinded her senses and everyone related to this scandal. Who would argue with money. The more the better. It was never enough for her.
Unfortunately it’s a moral issue that’s more common in developing countries. Even the U.S. still have bank run left and right, Silicon Valley bank for example. However, over time, Vietnam regulators will be able to do better job, just like the U.S. banking regulators. When a country opens up for foreign investors, some of them will fail because of the inherent risks of doing businesses (anywhere). Vietnam is a great investment market opportunities if not the best. Thanks Ken for bringing up transparency on ground for us all.
Moral of the story: Do not put all your money into Vietnamese banks. It might not be there the next day.
U.S banks r pretty much the same. Anway, do not put yur money into banks.
Buy Bitcoin and keep it in your own wallet.
ya bitcoin has been scammed worse@@jamesb.492
sure champ@@sharkdzung
i do very well in the banks here
Clear and straighforward. Thank you for sharing these insights Anh 🙏
Wow , that’s excellent reporting ! Can’t wait to see whats next😱😱🙃
Duong is the best youtuber out of Asia ..................... Thank you mate
Wow, thanks
Enjoy understanding the story banking in Vietnam.
Please make more of this videos. Thank you
Bad/sad news but I still believe in Vietnam potential and his tourism sector.
I sincerely hope all those that lost money will be ok, especially those that don't have much. I love Vietnam and its people.
Vietnam dont love you. Go away.
những người dân gửi tiết kiệm không mất tiền bạn nhé.chỉ những người mua cổ phiếu mới mất.vì họ tham lãi suất cao.
@@phuonganhpham6572bank hết tiền để trả ngân hàng nhà nước bảo lãnh trả tiền thì lấy tiền đâu ra để trả in thêm hay lấy từ tiền thuế?
🤣😂 Vietnam Ponzi economy doesn't compare to the USA PONZI economy since 1950!
Normal saving is secure only investment in that bank has problems
Ken a nice follow-up video would focus on efforts to recoup the lost funds and how successful those efforts are.
this type of FRAUD is the norm in USA.
They used "foundations", Off shore companies, trust, etc
to own shares of a bank, but its the same play.
If you want to learn the MOST corrupt practises, join a Private Bank in USA.
The world's best crooks.
Finally this is the time to come. Unavoidable for such a corruption, uneducation leadership.
Agreed ! I love vietnam & the Vietnamese people. Unfortunately, at the core of the countries economic organizing principals is coercive control. The roots are in communism. Corruption is an absolute eventuality. IMO.
First timer here. Excellent channel!👍
Thanks and welcome
A great message here. Keep it going, Ken!
When money talks every one sleeps.Sounds greed.
Even banks can't be trusted. Thus do not put all your money into one bucket.
Thats right they were not rich they stole from people to act like they rich how pathetic. 😢😢
Great content Ken.
Another great report!
Watching from the Philippines
In Vietnam there is a saying: Money can't buy everything but with lots of money you can buy anything. The whole scandal is rooted from the theme of money power. With lots of money it was used to buy government power to control the country financial economy through banking system and commercial complex. Once the system was established, money kept multiplying year after year non-stop. The scandal was working, thriving as long as the economy was growing until the economy coming to a halts, then it stopped working.
Very good to know. Thank you for bring this to our attention.
Who's here after the death penalty of ms Lan
Thank you for the great information.
Great information. Thanks for sharing.
greed knows no limit. should have taken the money and run. money corrupts absolute.
this thing broke a year ago but everyone in vietnam still behaving very rich
Born in China 4 th generation of Chinese migrant into Vietnam after Vietnam war 😮
Having been someone who lived in Vietnam and also was ripped off by the corrupt government and people, I'm enjoying this story a bit too much. LOL. The whole country business environment is a snake pit.
Greed 😡
Video có giá trị. Anh Ken làm video tiếng Việt để nhiều người Việt xem. Thank you.
About 10 times bigger than Malaysia's 1MDB scandal.
Moreover, this is a typical incident in Vietnam's property developers and banks. So, similar cases could be exposed anytime.
Very good video. Mr Ken Duong is a good presenter with clear informative delivery. For his film idea I would suggest looking at 'The Big Short' and 'Margin Call' films that somehow present complex dry financial scam stories in a compelling and entertaining style that engages an audience not familiar with the technicalities of the financial world. Sounds like, according to Ken, The woman was a front for someone working behind the scenes and it's curious and a shame that this kind of financial malfeasance could happen in Vietnam.
This is the reason why I only keep cash underneath my bed. No bank is needed. 😂
Yeah, it could get burns.
Like how people are being burnt by the banks?
Unfortunately money loses its value year by year unless you do something with it
Better carry in my pocket every time. 😂
@@jacknguyen5677 After 50 years. Not even burnt. But money I put in bank got liquidated. I didn't lose much though.
Thank you for telling the truth news
Thank you for the information and explain the banking sytem of Vietnam.
I cant help but to think Jho Low of 1MDB's scandal might be someone behind the couple
You are very good for informations to leak out. Thank you.
Hi Ken, enjoy watching your video's. You have alot of good knowledge. Keep up with the excellent work.
Damn it’s about to get crazy
Those that are guilty should be put away in jail
It must be a joke.
She goes to jail and then what? People aint getting their money back.
Usually financial undertaking of this magnitude in Vietnam are not stand alone, family, corporate or conglomerate similar to those in other southeast Asian countries. For this to happen, it is possible the connections can go all the way to the highest government officials and don’t forget the generals as well.
Isn't it possible to open a bank acct with say, a UOB of Singapore branch in Saigon? It would be much more secure, imho.
There could be an external hand in this scam. Vietnam is a fast growing manuf export economy. The country that feels most uncomfortable with this spectacular growth certainly would have rigged or played this game by using their pawns. Sad and debilitating for growth of this asian tiger
Don’t ever do business with Vietnam!
Until they adopt a democratic gov!
Doesn't matter what system. Human corruption is human corruption. If you pull off the face of democracy, e.g. Biden, you will be very surprised.
I ❤ your presentation. It's v clear!
Award winning report. Chuc mung!
This was along my line of thinking. I honestly felt they were caught up the nair and someone was casting the bait. They fell hard for the bait. Sad situation all the way around. Thank you for the video. It was filled with fresh intelligent ideas. Well done.
When the bank run at the SCB happenes in the adapted biopic movie "Take the money and run while sleeeeeepinng" - by Tamer needs to play. You just cut to her being taken in while Vietnamese ppl fight for their money.
Tip of the iceberg in the world during this period of time.
"PAWN SHOP FINANCIAL SYSTEM" , Jack Ma et.
Good video, thank you for sharing!
If Vietnam carries out this sentence international investment will disappear...
I don’t think that a deterrence, look up their human right and political oppression issue.
Very interesting video and well explained
Moral of the story: Don’t get in bed with the Chinese.
that means, she must be so intelligent for being able to pull it through
Ngày 15/9/2023, Cơ quan CSĐT Bộ Công an đã ra Lệnh kê biên tài sản số
239/LKB-CSKT-P2 đổi với tài sản tại huyện Bến Lức, tỉnh Long An do bà Phạm Thị Thu Đông (được Tập đoàn Vạn Thịnh Phát giao đứng tên nhận chuyển nhượng tài sản)
She's a genius. Insane, and very smart. (But not good)
No she isn't. She got caught. There are still smarter ones out there who haven't got caught at all.
Ngày 04/7/2023, Cơ quan CSĐT Bộ Công an đã ra 131 Lệnh kệ biên tài sản từ số 51 đến số 181/LKB-CSKT-P10 đối với 610 Bất động sản thể hiện tại 612 bản chính Giấy chứng nhận QSDĐ và 02 bản chính Giấy chứng nhận sở hữu công trình xây dựng đã thu giữ. More than 600 cái sổ đỏ😍😍😍
For sure she has support from the TOP goverment officers, no way she can do that for decades. But those officers is above the law
Those who profit from defunct businesses by orchestration will be your definite culprits.
Wonder if the Chinese were involved in this scandal
"...they couldn't get out of it..." moral of the story here, if you can't even do basic arithmetic, you definitely can't hold the purse. 😮
Hey Ken, great video. Are you writing your own scripts, or are you more or less talking freely? I think you have a good way to communicate complex topics.
All socialist governments wanted to implement or copy the capitalist way of business but ONE thing they dont know is what is check and balance is and there is required to be oversight involved.
Agreed, it’s not perfect and at least more accountable and trustworthy. 😊
- Ngày 8/11/2023, Cơ quan CSĐT Bộ Công an đã ra Lệnh kê biên tài sản số
317,318/LKB-CSKT-P2 đối với 03 tài sản nhà đất do Công ty Cổ phần T&H Hạ
Long sở hữu liên quan trực tiếp đến bị can Trương Mỹ Lan.
Ngày 11/8/2023, Cơ quan CSĐT Bộ Công an đã ra Lệnh kê biên tài sản số
219/LKB-CSKT-P10 đối với tài sản tại số 19-21-23-25 Nguyễn Huệ, phường Bến Nghé, Quận 1, Hồ Chí Minh (không thu giữ Giấy chứng nhận QSDĐ)
Good advise
Thanks Ken. SUB
As American married in Ho Chi Minh City ? I wonder if home prices will go down.
It’s safe to put your money in HCM bank. ( Hell Bank )
Does your law office have malpractice insurance? How can the client truly have trust in your services ?
Our law firm do have malpractice insurance that covers all our four offices worldwide. Trust is built on relationship and successful cases we worked on for over 15 years.
- Ngày 21/8/2023, Cơ quan CSĐT Bộ Công an đã ra Lệnh kê biên tài sản số
221/LKB-CSKT-P10 đối với tài sản tại số 232 Trần Hưng Đạo, phường 11, quận
5, TP. Hồ Chí Minh
Ken,
Can I invest in Vietnam?
Hi,ken I love Vietnam, explain how much money a man need to be happy in this small life?they don't follow the Buddhism?
can the peoples go to ms jun prison to get their monies? when she goes out prison she can does happy masseges again and get more monies to repay the peoples her stolen monies.
Thanks for your videos, how big the scandal was ? please be compared or put it in a perspective so that ordinary Vietnamese person can relate it. Regarless of how good your video is, without relating to the salary of an average Vietnamese, all of your explaination would be in vain.
Miss Lam s husband is really a billionaire in USD in HK - not alleged but a fact. He is the heir of one of HK’s rich families.
Hey, what limo are you riding in? Its not a rolls, not a maybach. A Lincoln or cadillac?
can you make your DUONG GLOBAL dang in vietnam
What do you mean?
Who money is she using though? All these bank r not well use by the local. It obvious the money she is using from foreigner money.
Why the host called her Ms. Lan? Her last name is Troung. She should be addressed as Ms. Troung instead. I assume the host speaks Vietnamese.
Vietnam's GDP is 433Bn... it's about 10%
Let’s go COMMIES!
Isn’t he afraid for reporting this ?
This is public knowledge.
Dit me ! Truong my lon !😂😂😂
Are depositors insured?
No.
@@duongglobalbusinessconsulting Thank you.
Yes, up to 125 VND @@duongglobalbusinessconsulting
en.vdb.gov.vn/news11223/deposit-insurance-coverage-limit
@aldrive622 , well, ask the depositors whether they recovered their losses.
Banks will never remember to get back you lost money. But if you owe them money, they will never forget and chase you to hell for it.
Could you please name one good ordinary person super riches build their empire without corruption without government officers involved in Vietnam…I’m sure none
Omg!! 😱😱
nhượng tài sản)
- Ngày 19/10/2023, Cơ quan CSĐT Bộ Công an đã ra 33 Lênh kê biên tài sản từ số 241 đến số 273/LKB-CSKT-P2 đối với 620 Bất động sản thể hiện tại 452 bản chính Giấy chứng nhận QSDĐ; 21 Hợp đồng công chứng mua một số phần đất tại 21 bản photo Giấy chứng nhận QSDĐ và 147 bản chính thoa thuận bồi thường các thửa đất thuộc dự án Phước Kiền, huyện Nhà Bè, TP. Hồ Chí Minh trong đó có tài sản tại số 110-112 Võ Văn Tần, quận 3, TP. Hồ Chí Minh do bị can Trương Mỹ Lan giao cho Công ty Cổ phần Minerva đứng tên sở hữu Cơ quan điều tra chưa thu giữ được bản chính Giấy chứng nhận QSDĐ
Bernie Madoff was never the SEC director.
He was chairman of the Nasdaq Stock Market and sat on SEC advisory committees
Ken. Your story is confusing. How exactly did she commit the embezzling of $44 billion?
She owned 95% of SCB which is illegal under VN law 5% max. She used her ownership to influence the bank to loan out money to multiple entities, some were ghost companies, all owned and controlled by her or her relatives/children. That was how she siphoned the bank's deposits to her pockets.
Through various means that are too detailed to list. Fake loan documents to extract the funds. Inter company electronic trannsfers. Setting up Holding Accounts. Sweep Accounts, the list goes on and on.
She withdraws money that is deposited into the bank saving accounts.
Keep in mind this bank has always had relatively high interest rates on saving accounts to maximize deposits.
First, she acquired shares of 3 banks that were in bad business condition, then she merged all 3 banks into 1 main bank and mobilized capital from people's deposits ( People do not know that their money is being illegally appropriated). Next, she opened hundreds of different ghost companies and put people close to her as senior leaders of this bank, then created fake documents to borrow huge amounts of money from this bank without any financial resources. guaranteed assets through these leaders. After inspections by state bank officials, she bribed millions of dollars so that her bank would have a good report. Thus, nearly 44 billion USD was withdrawn from the bank to invest in real estate in Vietnam and abroad. After many years of rude business, in the end there was no money to pay the people and the police investigated and she and her accomplices were arrested for prosecution...Hope you will understand a part because there are many Many details are being investigated.
Maybe lost in translation.. 😄
Is truong my lan in control ? Uh suuuu ? Only whom has the power to do it ? These people are scapegoats? When comes to money and power, only people has power to manipulate the game. Human loves money and power......never enough....only near death then everything is nothing.
She will be forgotten soon 😁
is he a news anchor? so he wants us not invest in Vietnam. Thank you for the info; now as a Canadian; we will not invest in Vietnam because of this news.
Nghe bạn này nói tiếng Mỹ tự nhiên thấy mình tự tin lây
Is Ms. Troung My Lan being locked up?
Locked up along all involved family members. But their scam ran through years, so reclaiming the money will require a lot of effort and international cooperation
Lạ quá. Tôi xem clip mới nhất. Mà sao lại nhảy qua comment clip cách đây 8 tháng.