Summary
Vietnam’s High People’s Court upheld the death sentence for real estate tycoon Truong My Lan, convicted of embezzlement and bribery in a record $12 billion fraud case.
Lan can avoid execution by returning $9 billion (three-quarters of the stolen funds), potentially reducing her sentence to life imprisonment.
Her crimes caused widespread economic harm, including a bank run and $24 billion in government intervention to stabilize the financial system.
Lan has admitted guilt but prosecutors deemed her actions unprecedentedly damaging. She retains limited legal recourse through retrial procedures.
What’s to stop them doing it all over again, given some starter money? Usually what makes these assholes so effective is their lack of empathy. That works well in capitalism.
White collar crime needs to start getting hard time in the same prisons that proper criminals go to. That’d be a deterrent, or a motivator to fix the prison systems.
If they can create a law that makes them no longer billionaires, I’m sure they could figure something out to prevent them from doing it again…
The thing with billionaires is that they don’t live in any single legal framework.
Which is why it would be so crucial to actually imprison them to get them to see any sort of consequences, as otherwise they’ll just hop on a private jet and fuck off.
Literally no consequences for stealing the value of labour of hundreds of millions of people. It’s crazy.
We as humanity allow these people to exist. We could just decide we don’t. If we all do, simultaneously, and pinky-promise, then the problem would be dealt with.
But ever tried getting 8 billion people on a zoom call at the same time? Yeah…