Banker Sentenced to Death in Vietnam Fraud Trial
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A Vietnam court sentenced two former executives to death in a fraud trial, underscoring the government’s efforts to clamp down on corporate corruption while cleaning up its banking system.
The People’s Court of Ho Chi Minh City sentenced Vu Quoc Hao, the former general director of Agribank Financial Leasing Co. No. 2, to death for embezzlement, Ma Van Nhat, secretary of the court, said in a phone interview. Dang Van Hai, the former chairman of a construction company, was also sentenced to death in the case, he said. Hao, 58, was charged with embezzling almost 532 billion dong ($25 million) of state property, according to a statement on the court’s website.