Powerful Vietnamese mogul arrested. Stock index dived more than 4%

You haz what??

I must report this to the local police and admin.
Indecent exposure. This place ain't a porn forum, Budman!!

And also, HERE!, learning how to deal with the Vietnamese traffic, ON his new car.

So you are driving the damn car and allowing Budman to stand on it. I thought you guys were friends!! shame on you, Howie.

Indecent???  Man, that is how snake oil tycoons enjoy their days!

Wild_1 wrote:

Indecent???  Man, that is how snake oil tycoons enjoy their days!

So Budman is really a snake oil tycoon. Is that what he is?? A Playgirl- posing, Bud Light-loving, license-to-kill carrying, car chasing, snake oil tycoon. Man, how little did I know.!

.....

The VN banking tycoon Nguyen Duc Kien, whose arrest is detailed above, has been 'found guilty' of two more charges, the Ministry of Public Security announced on Tuesday. Wonder if he even had a trial?

His new charges include “intentionally violating State regulations on economic management, causing serious consequences” and “Cheating to misappropriate other people's assets”, according to a statement by the Ministry.

Earlier charges included allegedly conducting illegal business after three Ha Noi-based companies he created were detected to have conducted illegal trading activities, according to a statement by the State Bank of VietNam (SBV).

Police also announced that the director and chief accountant of the ACB Ha Noi Investment Joint Stock Company, an investment firm also owned by Kien, have been detained and charged for their involvement in Kien’s crimes.

On 2012 August 24, Ly Xuan Hai, ACB’s ex-general director, was detained and charged with "intentionally violating State regulations on economic management, causing serious consequences".

Jaitch wrote:

Wonder if he even had a trial?

Are you kidding, bro?  He is guilty as Number One says he is, there is no need for a stinking trial. 

Now, or shortly here after, he will be sent home or a home-away-from-home, not that well-lighted place Anatta had pictured above. 

Everyone is entitled to a trial, even it is a pretend one or one of those Let's Do a Deal types that the US favours.

Of course, the US also has those lock 'em up and throw away the key deals where there is no trial such as Guantanamo; a recent justice model is to use a drone to eliminate the problem.

Alternatively, the Texas model - inject them first and then apologise when they found it was the wrong guy, and the wrong one is six feet under.

Kien is not found guilty yet. He is now under investigation and charges are being filed. Prosecution has not even begun yet.

"fraudulence"  carries a maximum sentence of life in prison, while "deliberate wrongdoing" has a 20-year penalty.

Meanwhile, every single day sees various board members resign en masse because of "personal reasons". Certain new prominent businessmen are "targeted" by the State propaganda machine on high gear, so more arrests are in the pipeline.

Anatta wrote:

Kien is not found guilty yet. He is now under investigation and charges are being filed. Prosecution has not even begun yet.

"fraudulence"  carries a maximum sentence of life in prison, while "deliberate wrongdoing" has a 20-year penalty.

Meanwhile, every single day sees various board members resign en masse because of "personal reasons". Certain new prominent businessmen are "targeted" by the State propaganda machine on high gear, so more arrests are in the pipeline.

It seems the consequence can be worse than life sentence.
According to the sentencing guideline 01/2001/NQ-HĐTP for the criminal laws, point 139 c): Fraudulence for amount more than 4.5 billions VND (220 000 USD) should be sentenced to death, unless there are mitigating circumstances.

Anatta wrote:

unless there are mitigating circumstances.

That is the escape clause, man.