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☆ Vietnam mounts ‘unprecedented’ $24 billion rescue for bank engulfed in giant fraud, documents show
▼ + stars: | 2024-04-17 | by ( ) www.cnbc.com time to read: +5 min

Foreign reserves were around $100 billion at the end of the year, according to the central bank. The central bank did not reply to requests for comment about the rescue effort. The finance ministry referred a question to the central bank. The central bank placed SCB under its supervision to stem a run on the bank sparked by the October 2022 arrest of real estate tycoon Truong My Lan. That was up from 478 trillion dong at the end of October, according to the SCB document that was sent to the central bank.

Persons: Truong My, Truong, Lan Organizations: AFP, Getty, Stock Commercial Bank, Reuters, ASEAN, Research, SCB, State Bank of, Bank Locations: Ho Chi Minh City, Vietnam, Saigon, State Bank of Vietnam's, People's

☆ Tycoon’s death penalty in $12.5 billion fraud case highlights Vietnam’s corruption crisis
▼ + stars: | 2024-04-12 | by ( Heather Chen | ) edition.cnn.com time to read: +12 min

The scale of the fraud was said to be equivalent to roughly 3% of Vietnam’s economy. Though widely considered ceremonial, the presidency is one of the top three positions in Vietnam’s political hierarchy after the CPV’s Secretary General, currently Nguyen Phu Trong. In fact, the International Monetary Fund expects Vietnam’s economy to grow by 5.8% this year, compared to 4.6% for China. Their fate remains unclear, given the highly secretive nature of Vietnam’s political system. But Vietnamese political experts said a permanent appointment would not end the instability.

Persons: Truong My Lan, Van Thinh, siphoned, “, Eric Chu, Vietnam’s, Vo Van, Trong, Thuong, Vo Van Thuong, Richard A, Brooks, Nguyen Xuan Phuc, Pham Binh, Le Hong Hiep, Yusof, ” Hiep, ”, Thu, General Trong, Xi Jinping, ” Zachary Abuza, Salt Bae, Lam, ” Abuza, Nguyen Phu Trong, Evelyn Hockstein, Abuza, Bui Thanh Soh, ” Soh, Vo, Xuan, Thuong’s, Le Hong Organizations: CNN, Van Thinh Phat Holdings Group, Stock Commercial Bank, Reuters, SCB, Express, Communist Party, Institute, Crisis Group, National War College, Vietnamese Communist Party, Public Security, Vietnam, International Monetary Fund, Companies, Apple, Intel, Vietnam's Communist Party General, Yusof, Brookings Institution, “, Crisis Locations: Vietnam, Saigon, People’s, Ho Chi Minh City, Hong Kong, Duc, Singapore, Asia, China, Washington, “, London, Turkish, Hanoi, Bangkok

☆ Truong My Lan: Vietnam tycoon sentenced to death in $12 billion fraud case
▼ + stars: | 2024-04-11 | by ( Story Reuters | ) edition.cnn.com time to read: +1 min

Hanoi CNN —A court in Vietnam sentenced real estate tycoon Truong My Lan Thursday to death over her role in a 304 trillion dong ($12.46 billion) financial fraud case, the country’s biggest on record, state media reported. The crackdown, dubbed “blazing furnace,” has seen hundreds of senior state officials and high-profile business executives prosecuted or forced to step down. Lan and her accomplices were accused of siphoning off more than 304 trillion dong from Saigon Joint Stock Commercial Bank, or SCB, which she effectively controlled through dozens of proxies, according to investigators. From early 2018 through October 2022, when the state bailed out SCB after a run on its deposits, Lan appropriated large sums by arranging unlawful loans to shell companies, investigators said. Lan will appeal the verdict, a family member told Reuters before it was issued.

Persons: Hanoi CNN —, Truong, Van Thinh, Vietnam’s, Nguyen Phu Trong, ”, Lan Organizations: Hanoi CNN, Van Thinh Phat Holdings Group, Communist Party, Stock Commercial Bank, Reuters Locations: Hanoi, Vietnam, Chi Minh City, Saigon

☆ Vietnamese property tycoon sentenced to death in country’s biggest ever financial fraud, state media reports
▼ + stars: | 2024-04-11 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +2 min

Vietnamese property tycoon Truong My Lan (C) looks on at a court in Ho Chi Minh city on April 11, 2024. The Vietnamese property tycoon Truong My Lan was sentenced to death on Thursday for her involvement in the country's biggest ever financial fraud case, state media outlet Thanh Nien reported. She was sentenced to death for the embezzlement charges and to 20 years in prison for each of the other two accusations, according to state media. Around $12.3 billion were allegedly funnelled to Van Thinh Phat while other funds were used privately. Alongside Lan, more than 80 other people including central bank officials have been charged in the case for damaging SCB, state media reported.

Persons: Truong, Lan, Van Thinh, Van Thinh Phat, Vietnam's Organizations: Thanh, Van Thinh Phat Holdings Group, Stock Commercial Bank, Reuters, CNBC, Communist Locations: Ho Chi Minh, Saigon

JPMorgan, the biggest U.S. lender, plans to increase its quarterly stock dividend to $1.05 per share from a current $1.00. Wells Fargo will boost its dividend to 35 cents a share from 30 cents, the companies said. Goldman Sachs' dividend will rise to $2.75 a share from $2.50, while Morgan Stanley's will increase to 85 cents a share from the current 77.5 cents. Citigroup's stress capital buffer (SCB) requirement rose to 4.3%, from a current 4.0%, contrasting with large peers whose SCB dropped. "While we would have clearly preferred not to see an increase in our stress capital buffer, these results still demonstrate Citi’s financial resilience through all economic environments," Fraser said.

Persons: Morgan Chase, Mike Segar, Goldman Sachs, Morgan Stanley, Wells, Morgan Stanley's, Jane Fraser, Fraser, Saeed Azhar, Nupur Anand, Tatiana Bautzer, Michelle Price, Lananh Nguyen, Richard Chang, Diane Craft, Cynthia Osterman Organizations: Co, New York City, REUTERS, JPMorgan Chase, Federal, JPMorgan, Bank of America, Moody's Investors Service, Citigroup repurchased, Thomson Locations: New York, Wells Fargo, U.S

☆ Swedish inflation dips more than expected in April, easing cbank worries
▼ + stars: | 2023-05-15 | by ( ) www.reuters.com time to read: +2 min

Stripping out volatile energy prices - a measure the central bank is looking closely at - underlying inflation was 8.4% on the year. For headline inflation, analysts had forecast 7.9%, the same as the Riksbank. Underlying inflation was seen by analysts at 8.7% and at 8.6% by the Riksbank. Another quarter-point hike is expected in June or September, before the tightening cycle comes to an end. Policy-makers said they were ready to rethink the plan if price pressures did not fall back as expected.

☆ China's economy will be 'on fire' in the second half of 2023, StanChart chairman says
▼ + stars: | 2023-01-18 | by ( Elliot Smith | ) www.cnbc.com time to read: +3 min

Andy Feng | iStock Editorial | Getty ImagesChina's economy will be "on fire" in the second half of 2023 as the economic performance of East and West diverges, according to Standard Chartered Chairman José Viñals. The reopening of the Chinese economy following several years of strict "zero-Covid" measures has buoyed sentiment among economists that the global growth and inflation picture may be less bleak than initially feared this year. OECD Secretary-General Mathias Cormann earlier this week said the reopening was "overwhelmingly positive" in the global fight to tackle sky-high inflation. The reopening has proven tricky, with China reporting a huge rise in Covid cases and deaths in recent weeks. Viñals said the structural improvements that helped insulate many EM economies would also enable them to flourish in years to come.

☆ Swedish inflation runs red hot in December, raising pressure on Riksbank
▼ + stars: | 2023-01-13 | by ( Johan Ahlander | ) www.reuters.com time to read: +2 min

Analysts in a Reuters poll had forecast headline inflation of 9.9% while the Riksbank saw annual price increases running at 9.1% in its most recent forecast in November. The central bank targets 2 percent CPIF inflation. "This means that headline inflation will probably be close to the Riksbank's forecast again already in January. Central banks around the world have reacted sharply to soaring inflation, jacking up interest rates and squeezing mortgage borrowers. CPI inflation was 2.1 percent on the month and 12.3 percent on the year.

Tun Min Latt is in pre-trial detention; his lawyer could not be reached for comment. Min Aung Hlaing’s two children face no legal action over the assets, according to the two people with knowledge of the case. They added that Thai authorities did not consider them relevant to the investigation against Tun Min Latt. The discovery of the documents indicated close ties between Tun Min Latt and the Myanmar junta chief’s family. Since the coup, Min Aung Hlaing’s forces have launched a bloody crackdown on dissent, killing thousands of opponents, according to the United Nations, which accuses Myanmar's troops of war crimes and crimes against humanity.

☆ Regulators in the Bahamas back their estimate on $3.5 billion in seized FTX crypto assets, saying the exchange's counter-claim of $296 million is due to 'incomplete information'
▼ + stars: | 2023-01-03 | by ( Brian Evans | ) www.businessinsider.com time to read: +2 min

Regulators in the Bahamas stood by their estimate on the $3.5 billion in crypto assets they seized from FTX. They rejected FTX's claims that the assets are worth just $296 million. "Such public assertions by the Chapter 11 debtors were based on incomplete information," the SCB said. The Securities Commission of the Bahamas pushed back against FTX's own valuation of $296 million, saying "Such public assertions by the Chapter 11 debtors were based on incomplete information." Meanwhile, FTX founder and former chief executive Sam Bankman-Fried is set to be arraigned in court on Tuesday in Manhattan federal court.

☆ Bahamas regulator sticks to estimate of FTX assets
▼ + stars: | 2023-01-03 | by ( ) www.reuters.com time to read: +1 min

Jan 2 (Reuters) - The Securities Commission of the Bahamas (SCB) rebuffed on Monday FTX's claims about the digital assets of its Bahamas unit held by the regulator, saying the debtors of the bankrupt cryptocurrency exchange had "incomplete information". Last month, the SCB said it had seized more than $3.5 billion in cryptocurrency from the unit, FTX Digital Markets, which it was holding for future repayment to customers and other creditors. FTX disputed SCB's calculations, saying its digital assets seized in November were worth just $296 million and not $3.5 billion. "Such public assertions by the Chapter 11 debtors werebased on incomplete information," the regulator said in a statement on Monday. Bahamas officials have sought access to FTX's records to help liquidate FTX Digital Markets, but the company's U.S. bankruptcy team said it did not trust them with the information.

FTX attorney James Bromley told Dorsey that the Bahamian government has previously obtained information from FTX Digital Market's liquidators and used it to siphon digital assets away from FTX. The Securities Commission of the Bahamas (SCB) has previously disputed FTX's "misstatements" about the Bahamian government's response to FTX's collapse. Chris Shore, an attorney for the Bahamas-based liquidators, told Dorsey that the liquidators were not working at the direction of the Bahamian government. Dorsey began the hearing by asking whether FTX and the Bahamas liquidators could reach a compromise on data sharing before Bromley shot that suggestion down. "Unlike the Chapter 11 process, there is no transparency in the process in the Bahamas," Ray said.

In this article BTC.CM=ETH.CM= Follow your favorite stocks CREATE FREE ACCOUNTKris Marszalek, CEO of Crypto.com, speaking at a 2018 Bloomberg event in Hong Kong, China. Paul Yeung | Bloomberg | Getty ImagesKris Marszalek wants everyone to know that his company, Crypto.com, is safe and in good hands. While no evidence has emerged of wrongdoing at Crypto.com, Marszalek's business history is replete with red flags. Over the course of 2008 and 2009, Marszalek and his partner were transferred nearly $3 million in payments from Starline, according to the documents. As a result, when the bank forced Starline into liquidation, Marszalek and his partner were forced into bankruptcy as well.

☆ Bahamas regulators confirm they're holding some of FTX's assets
▼ + stars: | 2022-11-18 | by ( Rohan Goswami | ) www.cnbc.com time to read: +1 min

FTX has filed for bankruptcy in the US, seeking court protection as it looks for a way to return money to users. Securities regulators in the Bahamas conceded that they ordered the transfer of FTX digital assets from company wallets into their own custody, citing the authority granted to them by the Supreme Court of The Bahamas and challenging FTX's assertion that the U.S. Chapter 11 bankruptcy processes applied to them. In a press statement Thursday evening, the Securities Commission of the Bahamas (SCB) said that it had exercised "its powers as a regulator" and directed the transfer of "all digital assets" of FTX Digital Markets, a Bahamian subsidiary of the FTX empire. Crypto research firm Elliptic, however, believes that the $477 million theft reported over this weekend was tied to moves by Bahamian regulators. Statements from both the Bahamas and U.S attorneys suggest "that the "hack" was actually the seizure of FTX assets by the Bahamian government," Elliptic wrote.

☆ 12 decese și 151 de cazuri noi de infectare cu COVID-19, confirmate astăzi în R. Moldova
▼ + stars: | 2021-05-11 | by ( Milena Onisim | ) www.zdg.md time to read: +2 min

Alte 151 de cazuri noi de infectare cu COVID-19 au fost confirmate astăzi, 11 mai, în R. Moldova. Totodată, MSMPS anunță înregistrarea altor decese provocate de COVID-19:Deces 5959: Bărbat de 71 de ani din r. Briceni, internat în SR. Briceni. Deces 5962: Bărbat de 70 de ani din r. Călărași, internat în SR. Călărași. Deces 5969: Bărbat de 88 de ani din r. Basarabeasca, internat în SR. Basarabeasca. Deces 5970: Bărbat de 86 de ani din R. Călărași, internat în SR. Călărași.

Persons: Briceni ., SC . Bălți ., mun . Organizations: Sănătății, Muncii, Protecției Sociale, SR, Briceni, SR . Călărași, SR ., Basarabeasca Locations: Moldova, Romania, Dondușeni, SC . Bălți, Dubăsari, SR . Criuleni, Călărași, mun, Bălți, IMSP, mun . Edineț, SR . Edineț, Basarabeasca

☆ Bilanț Covid: Alte 151 de cazuri noi de infectare și 12 decese, înregistrate astăzi în Republica Moldova
▼ + stars: | 2021-05-11 | by ( ) www.jurnal.md time to read: +2 min

Sursa foto: Jurnal.md / Nadejda RoșcovanuBilanț Covid: Alte 151 de cazuri noi de infectare și 12 decese, înregistrate astăzi în Republica MoldovaÎncă 151 de cazuri noi de infectare, dintre care unul de import (din România), au fost confirmate astăzi în RM. Comorbidități: diabet zaharat, obezitate. Comorbidități: diabet zaharat, obezitate, hipertensiune arterială. Comorbidități: diabet zaharat, boală renală. Comorbidități: diabet zaharat, hipertensiune arterială, obezitate.

Persons: Briceni ., SC . Bălți ., mun . Organizations: Ministerul Sănătății, SR, Briceni, SR . Călărași, SR ., Basarabeasca Locations: Republica Moldova, România, RM, Dondușeni, SC . Bălți, Dubăsari, SR . Criuleni, Călărași, mun, Bălți, IMSP, mun . Edineț, SR . Edineț, Basarabeasca

Comorbidități: diabet zaharat, obezitate. Comorbidități: diabet zaharat, obezitate, hipertensiune arterială. Comorbidități: diabet zaharat, boală renală. Comorbidități: diabet zaharat, hipertensiune arterială, obezitate. Comorbidități: obezitate, diabet zaharat.

Persons: Briceni ., SC . Bălți ., mun . Organizations: SR, Briceni, SR . Călărași, SR ., Basarabeasca Locations: Dondușeni, SC . Bălți, Dubăsari, SR . Criuleni, Călărași, mun, Bălți, IMSP, mun . Edineț, SR . Edineț, Basarabeasca

☆ În ultimele 24 de ore, în Moldova, au fost înregistrate 151 de cazuri noi de COVID-19
▼ + stars: | 2021-05-11 | by ( Onixmedia Srl | ) diez.md time to read: +2 min

În ultimele 24 de ore, în Moldova, au fost înregistrate 151 de cazuri noi de COVID-19Alte 151 de cazuri de infectare cu COVID-19 au fost confirmate astăzi în Republica Moldova. Deces 5959: Bărbat de 71 de ani din r. Briceni, internat în SR. Briceni. Deces 5961: Femeie de 64 de ani din r. Dubăsari, internată în SR. Criuleni. Deces 5969: Bărbat de 88 de ani din r. Basarabeasca, internat în SR. Basarabeasca. Deces 5970: Bărbat de 86 de ani din R. Călărași, internat în SR. Călărași.

Persons: ., Briceni ., SC . Bălți ., mun . Organizations: SR, Briceni, SR . Călărași, SR ., Basarabeasca Locations: Moldova, Republica Moldova, Romania, Dondușeni, SC . Bălți, Dubăsari, SR . Criuleni, Călărași, mun, Bălți, IMSP, mun . Edineț, SR . Edineț, Basarabeasca

☆ COVID-19 în R. Moldova: 20 de decese și 341 de cazuri noi, înregistrate în ultimele 24 de ore
▼ + stars: | 2021-04-19 | by ( Milena Onisim | ) www.zdg.md time to read: +4 min

Alte 341 cazuri noi de infectare cu COVID-19 și 20 de decese au fost confirmate astăzi, 19 aprilie, în R. Moldova. Totodată, MSMPS anunță înregistrarea a 20 de decese provocate de COVID-19:Deces 5572: Femeie de 60 ani,din r. Hâncești, internată în SR Hâncești. Comorbidități: diabet zaharat. Comorbidități: hipertensiune arterială. Comorbidități: diabet zaharat.

Persons: SC Bălți ., Ștefan Vodă, Vodă Organizations: Sănătății, Muncii, Protecției Sociale, SR, SR Telenești, SR Dondușeni, Ungheni Locations: Moldova, Rusia, Turcia, Ucraina, Hâncești, SR Hâncești, Fălești, SC Bălți, Sângerei, SR Sângerei, Florești, SR Florești, Strășeni, SR Strășeni, Bălți, Chișinău, SCM, Soroca, SR Soroca, Dondușeni

☆ Alte 20 de persoane au decedat în urma infectării cu noul coronavirus; Câte cazuri noi s-au înregistrat astăzi în RM
▼ + stars: | 2021-04-19 | by ( ) www.jurnal.md time to read: +4 min

Comorbidități: diabet zaharat. Comorbidități: hipertensiune arterială. Comorbidități: hipertensiune arterială. Comorbidități: diabet zaharat. Comorbidități: diabet zaharat.

Persons: NADEJDA, SC Bălți ., Ștefan Vodă, Vodă Organizations: Ministerul Sănătății, SR, SR Telenești, SR Dondușeni, Ungheni Locations: RM, Republica Moldova, Rusia, Turcia, Ucraina, Hâncești, SR Hâncești, Fălești, SC Bălți, Sângerei, SR Sângerei, Florești, SR Florești, Strășeni, SR Strășeni, Bălți, Chișinău, SCM, Soroca, SR Soroca, Dondușeni

Comorbidități: diabet zaharat. Comorbidități: hipertensiune arterială. Comorbidități: hipertensiune arterială. Comorbidități: diabet zaharat. Comorbidități: diabet zaharat.

Persons: SC Bălți ., Ștefan Vodă, Vodă Organizations: SR, SR Telenești, SR Dondușeni, Ungheni Locations: Hâncești, SR Hâncești, Fălești, SC Bălți, Sângerei, SR Sângerei, Florești, SR Florești, Strășeni, SR Strășeni, Bălți, Chișinău, SCM, Soroca, SR Soroca, Dondușeni

☆ Alte 440 de cazuri noi de infectare cu COVID-19 și 19 de decese, înregistrate în ultimele 24 de ore în R. Moldova
▼ + stars: | 2021-01-01 | by ( Milena Onisim | ) www.zdg.md time to read: +3 min

Alte 440 de cazuri noi de infectare cu COVID-19 au fost confirmate vineri, 1 ianuarie, în Republica Moldova. Comorbidități: hipertensiune arterială, insuficiență cardiacă. Comorbidități: hipertensiune arterială. Comorbidități: insuficiență cardiacă. Comorbidități: insuficiență renală, pancreatită cronică.

Persons: . Organizations: Ministerul Sănătății, Muncii, Protecției Sociale, SC, SR Locations: Republica Moldova, SUA, Federația Rusă, Cipru, Franța, Italia, Ucraina, Dubăsari, Chișinău, Transnistria, Bălți, SC Bălți, SCM, Comrat, SR Comrat, SR Criuleni, IMU

Comorbidități: hipertensiune arterială, insuficiență cardiacă. Comorbidități: hipertensiune arterială, insuficiență cardiacă. Comorbidități: hipertensiune arterială. Comorbidități: insuficiență cardiacă. Comorbidități: insuficiență renală, pancreatită cronică.

Persons: . Organizations: SC, SR Locations: Dubăsari, Chișinău, Transnistria, Bălți, SC Bălți, SCM, Comrat, SR Comrat, SR Criuleni, IMU

☆ RM a depășit pragul de 3000 de decese provocate de COVID-19: O tânără de 29 de ani, printre victimele de astăzi
▼ + stars: | 2021-01-01 | by ( ) www.jurnal.md time to read: +2 min

Persons: . Organizations: SC, SR Locations: Dubăsari, Chișinău, Transnistria, Bălți, SC Bălți, SCM, Comrat, SR Comrat, SR Criuleni, IMU

☆ Alte 440 de cazuri noi de infectare cu COVID-19 au fost confirmate astăzi în Republica Moldova
▼ + stars: | 2021-01-01 | by ( Onixmedia Srl | ) diez.md time to read: +4 min

Alte 440 de cazuri noi de infectare cu COVID-19 au fost confirmate astăzi în Republica Moldova440 de cazuri noi de infectare cu COVID-19 au fost confirmate astăzi în Republica Moldova. Decesul 2 993: femeie de 29 de ani din municipiul Bălți, internată la SC Bălți. Decesul 2 994: femeie de 66 de ani din municipiul Bălți, internată la SC Bălți. Decesul 2 996: bărbat de 88 de ani din municipiul Bălți, internat la SC Bălți. Comorbidități: insuficiență cardiacă.

Persons: Arhanghel Organizations: Ministerul Sănătății, SC, SR Locations: Republica Moldova, SUA, Federația Rusă, Cipru, Franța, Italia, Britanie, Ucraina, Dubăsari, Chișinău, transnistreană, Bălți, SC Bălți, SCM, Comrat, SR Comrat, SR Criuleni, IMU

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