0:00 if it was a dude would it have been so much under the magnifying glass or would he had been able to just kept greasing you already know dude viam is crazy we've been saying on this show for years she's pretty self-made too she wasn't she didn't come from wealth she a merry K that probably means like some some dude wanted a bang her she said no and he's like I'm a rat on [Music] you all right so I'm in some vitnam news man oh no why you say oh no I don't know you said it like something crazy happened something bad wow you got a good sense there because something crazy happened Bart there is a Vietnamese billionaire woman out there right now check this out they are definitely a country that has a death penalty
0:51 obviously for you know the regular crimes of things like murder or grape or whatever stuff like that right but this is a really really unique case because it's a white collar crime this is a crime of fraud that still was so crazy that they're sentencing her to death for it whoa heard about this one time is it because the consequences of the fraud caused someone to die no no it's just the magnitude of fraud was so crazy actually this is actually considered probably one of the largest bank frauds in the world ever ████ ever yeah sounds kind of tight how' she do it we're talking about like three easy steps the verdict of this requires her to return $27 billion yeah just kill dude which obviously prosecutors know that will never be recovered at that magnitude cuz
1:41 I wish that happened to us we like the she jacked like twice that amount though Enron ████ or like the AIG ████ like they they just get away Scott free I'd be tight if we killed our ████ yeah for real kill the ████ uh she's convicted of taking out $44 billion in loans from The Saigon Commercial Bank um this goes so deep that for example even her husband is being um prosecuted and is getting a 9-year sentence in jail her niece who's involved is getting a 17year sentence in jail um one of the like Bank regional managers or something like that who's you know turned to Blind ey to oversee different parts of this stuff uh is getting a life sentence um and then of course she is getting the death penalty as well apparently the way that it went down is uh with the Saigon Commercial Bank uh and somebody correct me if I'm wrong if you guys have other information
2:31 on this but like there's even a law in place over there that like no single entity or person can own more than 5% stake of a bank so a bunch of different you know organizations whatever can like be a part of it so that everybody's kind of on the board of ownership but what she ended up doing was creating like a ████ ton of different shell companies and like instating different people or like hiring different people to be like Representatives or proxies basically for her uh to the point where by the end of this uh amount of shell companies she ended up owning like over 92% of the saon um Commercial Bank wow therefore when you own over 90% of the bank you're basically in charge of all the money so from there all the loans for new businesses would be issued to all these proxy companies that were basically to herself anytime she was about to get caught or something started going
3:21 Upstream towards government officials or whatever up to millions of dollars of briberies were consistently given out so that like it just became this giant network of fraad that was so Grand that it's estimated that it counts for and again everybody knows that the the connotation of Vietnam right now is that it's a it's a growing very fast growing super economy of a Nation right likened to like what China was you know a generation ago but this fraudulent activity accounted for approximately 6% of the national GDP wow wow so it's like on some scale that and the reason why the punishment also needs to be so like extreme severe and all that stuff is because they are a Communist party right so especially with a a nation of Communism their reputation a legitimacy is completely based off of the nation's
4:11 performance and certain things and anybody who's been to Vietnam knows that things like corruption and bribery that's like a ████ everyday thing even when we're out there for a dance camp like last year and stuff like that um the second the dance camp was about to happen all the police still came into the venue and were like oh yeah you can't do this but it wasn't yeah so it wasn't really you couldn't do this it's like hey you can't do this pay us yeah and then the second ████ cash on hand undocumented unnegotiable thing there if a police pulls you over for something you know what I mean it's very easy to be like oh uh I have this
5:02 and it's like all right whatever so it's just normal but when you do it at this level where it accounts for like that much of the nation's GDP now it's a very very like Global like pay attention to how much you guys don't have your ████ in control you know what I mean like the world gets to pay attention to this so as a communist Nation you got to make a ████ example of it because no that's not how you do ████ so they are sentencing her to death which is crazy how do they do it over there I know it's not going to say it the AR that's extreme they do like death flying Squad ████ thought they would like push her off a building or something yeah go to the top of a banking building push her off very mainly lethal injection okay yeah Ty they just locked her in a bank vault Jesus and we're like with all the money there you go you can keep it D it said like 85 other people were
5:54 prosecuted along with her too yeah it was a whole network yeah it seemed like a big ass racket it took like was it like 200 lawyers or something sh 200 lawyers do have that many shell companies 2700 people were summoned to testify 10 State prosecutors and around 200 lawyers were involved that's a lot of of the country's resources yeah oh my God JY JY you're there for like years years yeah that sucks man yeah 85 others were tried the evidence was in 104 boxes weighing a total of 6 tons ████ um she's denying the charges still and is is trying to appeal oh my I mean you might as well you're going to die anyways all defendants were found guilty four received life in jail the rest were given prison terms ranging from 20 to 3 years suspended um it's crazy they're making like a spectacle of this too like I've seen it everywhere it it falls
6:44 under that Paradox of like their progress as you know Vietnam as a country has been so big because of the corruption it's helped oil along the actual like procedures and so it's like that they're running into that situation now where it feels like oh uh the more bureaucracy comes in and and regulates everything the slower things are going to get for like Vietnam's progress so which way do you really do it you know like yeah it's a little corrupt but look how far we came how fast you can go yeah it's like a weird thing where and also it said that like a lot of the bureaucrats don't want to step in because it makes it look like they're complicit in the corruption so they'd rather just be like I didn't see anything rather than be like oh I went in and if they go in and be like we need to see paperwork for that and if they get paid off then it's like if it still happens it looks like they got paid off
7:34 even if they didn't right so it's almost like what do you really do also too man whenever read stories like this I always do that same thing where it's like how much money did you need ████ I know why not just stop that just stop somewhere and ████ flee the country but if it's like if you expose like a loophole there is no stop what sounds like it just kept on growing and growing and growing she couldn't do much about it well cuz everybody that that could have got her in trouble was now on her side so it's like when when you're like the bank staff and everybody is under you and all the all the people that could all the officials that could catch her are receiving Millions the more you open that Circle up the more likely one day someone tells on you yeah they'll they'll get a return but it almost looks like if you're doing it for the benefit of your nation you you it at least from
8:24 the inside what I'm imagining it looks like you could get caught until you are the nation Jesus which is a very which I think she was just shy of it you know what I mean I'm vacation in SE Chili's and then I ████ stay there cuz I feel like that's where we got I think the the top people in our country are that I think they started off and then they just became the ████ system they became the system itself and then and then at that point it's like what do you do cuz you take that down you're going to take your whole country down it's like one of those situation we a pillar now the ████ Nation it's like who's going to really topple that you know H cuz look look at what he said five was it 6% of the nation's GDP yeah see maybe it was seven that was the you know who knows who knows man they are undergoing right now currently um a very like kind
9:15 of anti-corruption campaign led by the Communist Party Secretary General um so they're doing like the um what's the American Gangster movie Denzel right where Russell crows it I think it's called American Gangster American Gangster that's the one yeah I think it's called Original gangsters Frank uh Frank I don't remember Frank Lucas Frank Lucas at least he was right about something um Frank right did that whole thing where where Russell Crow is like I'm going to ████ have to clean out like the entire PD you know what I mean and it's just like even if that means like going all the way to the top DET Texas everything multiple you know uh stations and stuff uh and they're basically doing the same thing with this anti-corruption campaign to the point where I think think even in the last what is it like 3 years or something like that they've seen two different presidents of Vietnam
10:05 cycle in because the corruption is just so crazy holy ████ so like they're they're just undergoing like just a massive kind of yeah like like Ryan said I think it's a good way to put it a paradox because even like major companies like Apple started shifting from like China and moving over to Vietnam and stuff like that but we have no idea like what layers of you know like obviously we'll understand uh uh cheaper labor force or like the the whatever you know the all the righteous reasons that they can kind of like lower the bottom line for their operations for us to have iPhones and ████ but at the same time like how many wheels are getting greased in order for all that stuff to happen too you know what I'm saying so like we don't know how many levels there are to make a single thing happen but like he said now there's red tape in a lot of different places because they're going through such huge
10:55 anti-corruption stuff that it could be uh just kind of a weird Paradox for their situation within the last like 5 years I've seen made in Vietnam on way more stuff M it's just like you said it's like coming a big and then they got their Viet Vietnamese car manufacturing now starting to be more mainstream what was it who I think it was either you or you were telling me about that the biggest real estate company in the world is Japanese Japanese yeah like Woodside Woodside yeah residential like that's that's an interesting thing to think about if if like like in what world could that have all been done by the book completely legit mhm to get that big yeah like 100% I think that's almost impossible right exactly so at some point in Japanese infrastructure they have to kind of let a few things just to make it faster and more efficient and to even get to that to win accounts from other things like
11:47 to be the number one you know what I mean as a country it's it's that's usually where a lot of things get uh I guess like unscrupulous cuz it's like oh this is for the good of the nation like we've heard that here a million times like yeah I believe it too yeah it's like a lot of the countries that um like even in real estate where you you have to go through permitting you if you remodel your kitchen or whatever and you just know like the minute you're like ████ I have to get the city involved then that process like doubles or triples in time seriously so even ████ that are remodeling their own house they're like H if it's not like Lo a loadbearing ████ beam let's just remodel it ourselves you know so it's like but then over the long period of time if you think Super macro you're like okay out of all these homes how many of these are going to last the next 50 years or they built the code or you have all that stuff so it is kind of like that Paradox where it's like if you want to move fast you do need less rules yeah yeah yeah but then if you want
12:38 something to have strong Foundation you do need more rules so it's like at what point is like what's more important and I think the only time that we run into the problem kind of like we are for the Vietnam thing I think the only time that it becomes a oh hold on hold on let's pump the brakes and like now we have to call this out is when the party that's currently in power is being threatened by this move yeah so like in the way that the communist government is now being looked at as like hey you guys are no better than ████ capitalists now they have to be like oh we'll take care of it don't worry like cuz then now the whole like political party is going to be ousted over this situation right it almost seems like that's the only thing that could like a shift in power or threaten a threat of like a shift in power yeah which feels crazy that it has to happen at the billion dollar level like that like or trillion dollar level and is it even like like bringing like culture into it I wonder if it was like
13:30 if it was a dude would it have been so much under the magnifying glass or would he had been able to just kept greasing you know you already know dude vienamese ████ is crazy we've been saying on on this show for years she's pretty self-made too she wasn't she didn't come from wealth she started off like selling Cosmetics with her mom like just like even more reason to take the money and go Mery that probably means like some some dude wanted to bang her she said no and he's like I'm a rat on you if it's that simple bye ████ [Music]
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