Death verdict for Vietnam tycoon in $12.5 billion fraud case

Business woman Truong My Lan attends a trial in Ho Chi Minh City, Vietnam on Thursday, April 11, 2024. (AP)
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Updated 11 April 2024
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Death verdict for Vietnam tycoon in $12.5 billion fraud case

  • Her niece, Truong Hue Van, the chief executive of Van Thinh Phat, was sentenced to 17 years in prison for aiding her aunt

HANOI, Vietnam: A court in Vietnam handed the death sentence on Thursday to real estate tycoon Truong My Lan for her role in a 304-trillion-dong ($12.5-billion) financial fraud, the country’s biggest on record, state media said.
Her trial, begun on March 5 and ending earlier than planned, was one dramatic result of a campaign against corruption that the leader of the ruling Communist Party, Nguyen Phu Trong, has pledged for years to stamp out.
Lan, the chairwoman of real estate developer Van Thinh Phat Holdings Group, was found guilty of embezzlement, bribery and violations of banking rules at the end of a trial in the business hub of Ho Chi Minh City, state media said.
“We will keep fighting to see what we can do,” a family member told journalists. Before the verdict he had said Lan would appeal against the sentence.
Lan had pleaded not-guilty to the embezzlement and bribery charges, Nguyen Huy Thiep, one of Lan’s lawyers said.
“Of course she will appeal the verdict,” he added noting she was sentenced to death for the embezzlement charge and to 20 years each for the other two charges of bribery and violations of banking regulations.
Vietnam imposes the death penalty mostly over violent offenses but also for economic crimes. Human rights groups say it has executed hundreds of convicts in recent years, mainly by lethal injection.
The Thanh Nien newspaper said 84 defendants in the case received sentences ranging from probation for three years to life imprisonment. Among them are Lan’s husband, Eric Chu, a businessman from Hong Kong, who was sentenced to nine years in jail, and her niece who got 17 years.
Lan started as a cosmetics trader at the central market in Ho Chi Minh City, helping out her mother, she told judges during the trial, according to state media.
She later founded her real estate company Van Thinh Phat in 1992, the same year when she got married, according to state media.
She was found guilty, with her accomplices of siphoning off more than 304 trillion dong from Saigon Joint Stock Commercial Bank, which she effectively controlled through dozens of proxies despite rules strictly limiting large shareholding in lenders, according to investigators.
From early 2018 through October 2022, when the state bailed out SCB after a run on its deposits triggered by Lan’s arrest, she appropriated large sums by arranging unlawful loans to shell companies, investigators said.

 


South African diplomats meet US counterparts over ‘misconceptions’

Updated 2 sec ago
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South African diplomats meet US counterparts over ‘misconceptions’

  • Trump has also cut financial aid over what he alleged was an anti-white land policy and offered refugee settlement to the white Afrikaner minority
  • Trump’s right-hand man is South African-born billionaire Elon Musk, who has in the past echoed far-right conspiracy theories about a ‘white genocide’
JOHANNESBURG: Senior South African diplomats have met their US counterparts in Washington to clarify “misconceptions” that have soured relations since President Donald Trump took office, South Africa’s government said on Tuesday.
The meetings were intended to explain South African policies so the Trump administration “positions itself as a strategic partner,” the foreign ministry said.
The new US government has torn into various South African policies, culminating in the expulsion of Pretoria’s ambassador last month.
Trump has also cut financial aid over what he alleged was an anti-white land policy and offered refugee settlement to the white Afrikaner minority that he has claimed is being persecuted.
“The delegation clarified key issues and misconceptions,” the ministry said in a statement.
“We believe that these dialogues will assist to refine the current administration’s understanding of South Africa’s position on critical matters, fostering a more nuanced perspective.”
The aim was for the Trump administration to position “itself as a strategic partner in a manner that avoids conflagration of our national interests against those of our strategic partners across the world.”
The South African officials addressed “misconceptions on what has been presented by some as race laws designed to undermine minority rights,” the statement said.
This included explaining a new Expropriation Act to show that it was not designed to facilitate unlawful land seizures, as alleged.
Trump’s right-hand man is South African-born billionaire Elon Musk, who has in the past echoed far-right conspiracy theories about a “white genocide” in the country.
The South African delegation also briefed the UN General Assembly on the country’s ambitions for its presidency this year of the G20 group of leading economies which carries the theme “Solidarity, Equality, Sustainability,” the statement said.
US Secretary of State Marco Rubio refused to attend the first G20 foreign ministers meeting in February, saying it had an “anti-American” agenda.
The General Assembly “overwhelmingly endorsed the priorities and theme of the South African G20 Presidency,” the statement added.
The United States is South Africa’s second-biggest trading partner and Pretoria is anxious to preserve this exchange.
Other disagreements between the two are over some of South Africa’s foreign policies, including its case against Israel at the International Court of Justice over the war in Gaza.

Germany sees Ukraine truce efforts as deadlocked, while China says the talks are encouraging

Updated 36 min 53 sec ago
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Germany sees Ukraine truce efforts as deadlocked, while China says the talks are encouraging

  • German Foreign Minister Annalena Baerbock said European allies’ continued support for Ukraine in the war is “absolutely crucial”
  • Ukrainian Foreign Minister Andrii Sybiha said Tuesday that the latest version of the mineral deal remained under discussion

KYIV: Germany’s chief diplomat on Tuesday described US President Donald Trump’s efforts to secure a truce in the three-year war between Russia and Ukraine as deadlocked, while China’s foreign minister said that it was encouraging that the talks between Washington and Moscow on finding a settlement are continuing.
German Foreign Minister Annalena Baerbock, arriving in Kyiv for an unannounced visit, said that “due to the deadlock” between the US and Russia on forging a ceasefire deal, European allies’ continued support for Ukraine in the war is “absolutely crucial.”
Trump on Sunday scolded Russian President Vladimir Putin and Ukrainian President Volodymyr Zelensky, expressing frustration at the continued fighting in a war that he had pledged to swiftly stop.
Trump insisted progress was being made in the negotiations, but said that he would consider imposing further sanctions to put pressure on Moscow and accused Zelensky of trying to back out of a deal with the US on access to Ukraine’s mineral resources.
Ukrainian Foreign Minister Andrii Sybiha said Tuesday that the latest version of the mineral deal remained under discussion and that Ukraine had conducted its first round of consultations on that version.
Putin has effectively refused a US proposal for an immediate and full 30-day halt in the fighting, despite Trump’s prodding. Also, a partial ceasefire in the Black Sea that could allow safer shipments has fallen foul of conditions imposed by Kremlin negotiators.
“We consider the models and solutions proposed by the Americans quite seriously, but we can’t just accept all of them as they are,” Russia’s Deputy Foreign Minister Sergei Ryabkov said.
Moscow is holding out on a deal to ease shipping in the Black Sea in order to “stall efforts toward a general ceasefire and extract additional concessions from the West,” according to an assessment Monday by the Institute for the Washington-based Study of War think tank.
Trump has signaled that he could consider new oil sanctions on Russia — a development Ukraine would view favorably.
“I believe we have reached the point where stronger sanctions are needed, because I believe the Russians are breaking the promises they made to America,” Zelensky said during a joint press conference with Baerbock in Kyiv on Tuesday.
“For us, decisive action is crucial. Words are not enough,” Zelensky added. “We are the ones who suffer.”
Putin previously has ruled out a temporary break in hostilities, saying that it would only benefit Ukraine and its Western allies by letting them replenish their arsenals. He has insisted that Moscow wants a comprehensive agreement that would ensure a lasting settlement.
Kremlin spokesman Dmitry Peskov indicated Tuesday that a breakthrough in negotiations isn’t imminent.
“The issues that we are discussing in connection with the Ukrainian settlement are quite complex and they require a lot of additional efforts,” Peskov said in a conference call with reporters.
New drone attacks on energy facilities
Meanwhile, deadly attacks by both Russia and Ukraine have continued, and they are gearing up for spring campaigns in their war of attrition along the roughly 1,000-kilometer (620-mile) front line.
Overnight, Russia fired no Shahed drones at Ukraine for the first time in more than five months, according to authorities.
But Andrii Kovalenko, the head of the counter-disinformation branch of Ukraine’s Security Council, detected no change in Russian strategy.
“For now, this means nothing,” he said on Telegram.
Russia’s Defense Ministry accused Ukraine of launching new drone attacks on energy facilities in Russia’s Belgorod region and in the Russia-controlled part of Ukraine’s Zaporizhzhia region. Zelensky accused Russia of failing to uphold its commitment to a ceasefire targeting the energy infrastructure.
“I’ve asked our side to pass information through various institutions about Russia’s breaches of the agreement not to strike energy facilities,” he said, adding that the reports have been sent almost daily. “We’re sharing this information with the United States, and we see that America is beginning to understand it.”
Ukraine’s European backers say they will keep supporting Kyiv’s efforts to defeat Russia’s invasion. Zelensky said a closed-door meeting with military officials from several partner countries will take place Friday to further discuss the possible deployment of foreign troops to Ukraine as a part of future security guarantees.
“It will be the first in-depth meeting... based on proposals prepared by the Ukrainian side,” he said.
‘A fair, long-term, binding peace’
Putin is getting military help from North Korea and Iran.
China, too, has given diplomatic support to Russia and has provided economic help through trade in energy and consumer goods.
Chinese Foreign Minister Wang Yi, on a visit to Moscow, was quoted as saying Tuesday that “certain results have been achieved” in Washington’s attempt to stop the war as US-Russia relations have improved under Trump.
Beijing supports the goal of “a fair, long-term, binding peace agreement acceptable to all parties involved,” he said in an interview with Russian state news agency RIA Novosti.
At the start of his meeting with Putin, Wang said they would discuss future relations. “The China-Russia relationship will not stand still, but will only become more and more extensive,” he said.


Last US soldier who went missing in Lithuania found dead

Updated 01 April 2025
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Last US soldier who went missing in Lithuania found dead

  • Hundreds of local and foreign troops and others including engineers and divers had been involved in the operation
  • The army did not specify where exactly the soldier was found

VILNIUS: The last of the four American soldiers who went missing in Lithuania last week was on Tuesday also found dead, the US Army said, without providing additional details.
The three other soldiers were found dead on Monday after rescuers recovered their M88 Hercules armored vehicle from a swamp. Hundreds of local and foreign troops and others including engineers and divers had been involved in the operation.
Lithuanian authorities received a report last Tuesday that the soldiers went missing during a military drill at a training ground in the eastern city of Pabrade, near the border with Belarus.
“The fourth US Army Soldier... was found deceased near Pabrade, Lithuania the afternoon of April 1,” US Army Europe and Africa’s public affairs office said in a statement.
“The Soldier’s identity is being withheld pending confirmation of notification of next of kin,” it added.
The army did not specify where exactly the soldier was found.
Hundreds of people gathered at the US embassy in the Lithuanian capital Vilnius on Tuesday evening to pay their respects to the four soldiers, who had been in Lithuania for two months.
Carrying US flags, people laid flowers, lit candles and held a minute of silence for the soldiers.
Lithuania’s defense ministry expressed “deep sorrow” over the death.

“We extend our condolences to the families of all four soldiers lost in this tragic accident and thank all those involved in the search efforts,” it added on social network X.


US defense secretary Pete Hegseth thanked the “brave servicemembers who enabled this difficult recovery and to our Lithuanian hosts.”
“The recovery was conducted with urgency, resolve and deep respect for the fallen,” he said on X.
“We will never forget these soldiers — and our prayers are with their families.”
Lithuania, a NATO and EU member, hosts more than 1,000 American troops stationed on a rotational basis.


Mali, Burkina, Niger foreign ministers due in Moscow for talks

Updated 01 April 2025
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Mali, Burkina, Niger foreign ministers due in Moscow for talks

  • Sahelian countries are led by juntas who seized power in coups between 2020 and 2023 and have turned away from former colonial power France and moved closer to Russia
  • Russian mercenaries from the Wagner group and its successor Africa Corps are helping the Alliance of Sahel States (AES) battle extremists

ABIDJAN: The foreign ministers of Mali, Burkina Faso and Niger are due in Moscow this week for the first talks between their countries’ newly created confederation and Russia, they said in a statement.
The three Sahelian countries are led by juntas who seized power in coups between 2020 and 2023 and have since turned away from former colonial power France and moved closer to Russia.
They quit the Economic Community of West African States (ECOWAS) at the beginning of the year, accusing the regional bloc of being subservient to France, and have formed the Alliance of Sahel States (AES), originally set up as a defense pact in 2023 but which now seeks closer integration.
The three foreign ministers will be in the Russian capital on Thursday and Friday at the invitation of their counterpart Sergei Lavrov to “take part in the first session of AES-Russia consultations,” the ministers said in a statement posted on Facebook by the Malian foreign ministry, which holds the presidency of the confederation.
“This meeting is part of the shared desire of the heads of state of the AES confederation and the Russian Federation to extend their partnership and their political dialogue at the confederal level and to place them at the heart of their diplomatic, development and defense agenda,” they said.
Russian mercenaries from the Wagner group and its successor Africa Corps are helping the AES countries battle extremists, whose attacks have killed tens of thousands of people in the three countries.
Moscow has also concluded defense agreements with Mali, Burkina and Niger and has supplied military equipment.
It also cooperates with the AES on energy and mining.


King Charles back to work after ‘minor bump’ in cancer treatment

Updated 01 April 2025
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King Charles back to work after ‘minor bump’ in cancer treatment

  • Officials regarded the short hospital stay of a few hours as a “minor bump” in his medical journey
  • Other engagements later in the week will include the king’s weekly meeting with Prime Minister Keir Starmer

LONDON: King Charles III on Tuesday carried out his first public engagement since a short spell in hospital last week for side effects from his cancer treatment.
Charles, 76, on Thursday postponed all his appointments for the rest of the day and for Friday on doctors’ advice after suffering some temporary symptoms, Buckingham Palace said.
Officials regarded the short hospital stay of a few hours as a “minor bump” in his medical journey.
In the first of his engagements for this week, Charles was all smiles as he handed out honors at Windsor Castle west of London to leading figures including reigning world heptathlon champion Katarina Johnson-Thompson who was recognized with an Member of the Order of the British Empire (MBE) for her services to athletics.
Johnson-Thompson said afterwards the monarch “seemed in good spirits. You know it’s long, all day, because so many people are getting honored today.
“So he seems in really good spirits and I’m happy to see that he’s fit and well.”
Gardner and broadcaster Alan Titchmarsh, who received a Commander of the Order of the British Empire (CBE), also praised Charles’s “boundless energy.”
Other engagements later in the week will include the king’s weekly meeting with Prime Minister Keir Starmer.
A small number of appointments, however, had been rescheduled ahead of a state visit that Charles and his wife Queen Camilla will make to Italy next week.
Charles announced he had been diagnosed with an unspecified cancer in February last year.
He returned to work within two-and-a-half months and gradually ramped up his duties during the rest of 2024, including making several foreign trips which took him as far as Australia and Samoa.
Just six weeks after Charles’s cancer announcement came the news that his daughter-in-law Catherine, Princess of Wales, had also been diagnosed with cancer and had begun chemotherapy.
Catherine, who is married to heir to Charles’s eldest son Prince William, said in January that she was now in remission