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Berjaya’s hope to recoup US$10mil dims after Vietnam court upholds verdict


The chief executive of one victim, depositor Saigonbank Berjaya Securities JSC (SBBS) – a unit of Berjaya Corp Bhd also confirmed the verdict. Josephine Yei told Reuters earlier that if the ruling was upheld, she had little hope of recouping her bank’s US$10mil from the perpetrator, who was sentenced to life imprisonment.  “I am heartbroken and lost of words now,” Yei told Reuters after the ruling

The chief executive of one victim, depositor Saigonbank Berjaya Securities JSC (SBBS) – a unit of Berjaya Corp Bhd also confirmed the verdict. Josephine Yei told Reuters earlier that if the ruling was upheld, she had little hope of recouping her bank’s US$10mil from the perpetrator, who was sentenced to life imprisonment. “I am heartbroken and lost of words now,” Yei told Reuters after the ruling

HANOI: A court has upheld a key judgement in Vietnam’s biggest-ever fraud case, a victim’s lawyer told Reuters, in a trial that has spotlighted the country’s ability to tackle financial crime at a time when foreign banks are heeding government calls to invest.

The Ho Chi Minh City People’s High Court ruled yesterday to uphold a judgment that the central perpetrator of a 4.9 trillion dong (US$215mil) theft is responsible for returning some of the stolen money, rather than the individual’s employer at the time, state-controlled VietinBank.

Corporate News , Banking , Berjaya Corp

   

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