All articles tagged with #corruption crackdown
The Chinese Communist Party has expelled nine top military generals, including He Weidong, amid a large-scale anti-corruption and political purge, signaling a significant crackdown on military and political elites ahead of the party's upcoming plenum.
Vietnamese real-estate tycoon Truong My Lan has been sentenced to death for her involvement in a $12.5 billion fraud case, which has raised concerns about corruption and its impact on Vietnam's economy and investment climate. The case is part of a broader anti-corruption campaign led by Communist Party Secretary Nguyen Phu Trong, which has led to the resignation of two Vietnamese presidents and has caused foreign investors to be cautious. The crackdown has affected market sentiment and bureaucratic processes, with the country's benchmark VN-Index experiencing significant fluctuations.
Vietnamese property tycoon Truong My Lan has been sentenced to death for her involvement in the country's largest financial fraud case, which involved embezzlement, bribery, and violating banking rules. Lan, the chairwoman of real estate development firm Van Thinh Phat Holdings Group, was found guilty of appropriating assets from Saigon Joint Stock Commercial Bank by taking out unlawful loans. The loans, totaling $44 billion, accounted for over 90% of the bank's lending between 2012 and 2022. Lan plans to appeal the sentence, which is part of Vietnam's broader crackdown on corruption.
Sultan Ibrahim Sultan Iskandar of Johor has been installed as the new king of Malaysia, amid a period of political maneuvering and a corruption crackdown. As the country faces a realignment in its political landscape, the king's role is expected to become more prominent, with potential involvement in adjudicating parliamentary matters. Known for his hands-on approach to state matters, the Sultan is expected to have a close working relationship with Prime Minister Anwar Ibrahim, focusing on tackling corruption and boosting the economy.
The US Supreme Court has overturned the bribery conviction of Joseph Percoco, a former aide to Democratic former New York Governor Andrew Cuomo, in a ruling that further limits the ability of federal prosecutors to pursue corruption cases. The court ruled 9-0 in favor of Percoco, who was charged in 2016 as part of a corruption crackdown by federal prosecutors in Manhattan. The ruling represented the latest in recent years in which the court has limited prosecutors in political corruption cases.
Venezuela's anti-corruption probe has led to the arrest of 10 officials and 11 businessmen, with arrest warrants issued for 11 more people. The investigation, which began in October, is focused on state oil company PDVSA, a government entity supervising crypto currency operations, and the judiciary. The 21 people arrested face accusations of appropriation of public assets, money laundering, influence peddling and criminal association. Officials involved could also face charges of treason.