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Vietnamese billionaire sentenced to death for $44bn fraud

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It was the most spectacular trial ever held in Vietnam, befitting one of the greatest bank frauds the world has ever seen.

Behind the stately yellow portico of the colonial-era courthouse in Ho Chi Minh City, a 67-year-old Vietnamese property developer was sentenced to death on Thursday for looting one of the country’s largest banks over a period of 11 years.

It’s a rare verdict – she is one of very few women in Vietnam to be sentenced to death for a white collar crime.

The decision is a reflection of the dizzying scale of the fraud. Truong My Lan was convicted of taking out $44bn (£35bn) in loans from the Saigon Commercial Bank. The verdict requires her to return $27bn, a sum prosecutors said may never be recovered. Some believe the death penalty is the court’s way of trying to encourage her to return some of the missing billions.

The habitually secretive communist authorities were uncharacteristically forthright about this case, going into minute detail for the media. They said 2,700 people were summoned to testify, while 10 state prosecutors and around 200 lawyers were involved.

The evidence was in 104 boxes weighing a total of six tonnes. Eighty-five others were tried with Truong My Lan, who denied the charges and can appeal.

All of the defendants were found guilty. Four received life in jail. The rest were given prison terms ranging from 20 years to three years suspended. Truong My Lan’s husband and niece received jail terms of nine and 17 years respectively.

“There has never been a show trial like this, I think, in the communist era,” says David Brown, a retired US state department official with long experience in Vietnam. “There has certainly been nothing on this scale.”

The trial was the most dramatic chapter so far in the “Blazing Furnaces” anti-corruption campaign led by the Communist Party Secretary-General, Nguyen Phu Trong.

A conservative ideologue steeped in Marxist theory, Nguyen Phu Trong believes that popular anger over untamed corruption poses an existential threat to the Communist Party’s monopoly on power. He began the campaign in earnest in 2016 after out-manoeuvring the then pro-business prime minister to retain the top job in the party.

(BBC News)

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Joe Biden diagnosed with aggressive prostate cancer

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Former US President Joe Biden, 82, has been diagnosed with prostate cancer that has spread to his bones, a statement from his office said on Sunday.

Biden, who left office in January, was diagnosed on Friday after he saw a doctor last week for urinary symptoms.

The cancer is a more aggressive form of the disease, characterised by a Gleason score of 9 out of 10. This means his illness is classified as “high-grade” and the cancer cells could spread quickly, according to Cancer Research UK.

Biden and his family are said to be reviewing treatment options. His office added that the cancer was hormone-sensitive, meaning it could likely be managed.

In Sunday’s statement, Biden’s office said: “Last week, President Joe Biden was seen for a new finding of a prostate nodule after experiencing increasing urinary symptoms.

“On Friday, he was diagnosed with prostate cancer, characterised by a Gleason score of 9 (Grade Group 5) with metastasis to the bone.

“While this represents a more aggressive form of the disease, the cancer appears to be hormone-sensitive which allows for effective management.”

After news broke of his diagnosis, the former president received support from both sides of the aisle.

President Donald Trump wrote on his social media platform Truth Social that he and First Lady Melania Trump were “saddened to hear about Joe Biden’s recent medical diagnosis”.

“We extend our warmest and best wishes to Jill and the family,” he said, referring to former First Lady Jill Biden. “We wish Joe a fast and successful recovery.”

Former Vice-President Kamala Harris, who served under Biden, wrote on X that she and her husband Doug Emhoff are keeping the Biden family in their prayers.

“Joe is a fighter – and I know he will face this challenge with the same strength, resilience, and optimism that have always defined his life and leadership,” Harris said.

In a post on X, Barack Obama – who served as president from 2009 to 2017 with Joe Biden as his deputy – said that he and his wife Michelle were “thinking of the entire Biden family”.

“Nobody has done more to find breakthrough treatments for cancer in all its forms than Joe, and I am certain he will fight this challenge with his trademark resolve and grace. We pray for a fast and full recovery,” Obama said. In 2016, Obama tasked Biden with leading a “cancer moonshot” government-wide research programme.

(BBC News)

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Special traffic plan during 16th War Heroes’ Commemoration today 

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The 16th National War Heroes’ commemoration ceremony will be held today (May 19) at the National War Hero Cenotaph in Sri Jayawardhanapura under the patronage of President Anura Kumara Dissanayake.

The commemoration event is scheduled to begin at 4.00 pm.

Parallel to the event, a special traffic plan will be implemented in and around the Battaramulla area, according to the Sri Lanka Police.

Authorities have emphasized that no road closures will be enforced.

However, in the event of traffic congestion, movement along Parliament Road – from Polduwa Junction to Kiyayam Junction via Jayanthipura – may be restricted for vehicles traveling to and from Colombo.

To minimize inconvenience, the police have issued the following alternative routes:

For vehicles exiting Colombo: Travel from Polduwa Junction to Battaramulla Junction, then proceed from Palam Thuna Junction to Kiyayam Junction.

For vehicles entering Colombo: Travel from Kiyayam Junction to Palam Thuna Junction, then proceed to Battaramulla Junction and continue to Colombo via Polduwa Junction.

Motorists are advised to follow police instructions and use the designated alternative routes to avoid delays during the commemorative events.

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Nalinda departs for Switzerland to attend WHO assembly

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Minister of Health and Mass Media Dr. Nalinda Jayatissa left for Switzerland yesterday (May 18) to attend the 78th World Health Assembly (WHA78) organized by the World Health Organization (WHO).  

The assembly will be held in Geneva, Switzerland from May 19 – 27 under the theme – “One World for Health”.

Health ministers from all WHO member states, along with over 5,000 delegates representing global health sectors, are expected to attend the assembly.

It’s reported that this will feature wide-ranging discussions with representatives from various countries, during which proposals, ideas, and research data will be reviewed to make key decisions and formulate plans to improve global health conditions in the coming year.

In addition to the Minister of Health, the Sri Lankan delegation to the WHA78 includes the Health Ministry Secretary – Dr. Anil Jasinghe, Sri Lanka’s Permanent Representative to the UN in Geneva – Himali Arunathilaka, and the mission’s First Secretary – Nishanthini Victor.

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