HANOI - Retired nurse Nga put her life savings into a bond at Vietnam's Saigon Commercial Bank (SCB) but can no longer access her money after being caught up with tens of thousands of other victims in a multi-billion-dollar scam that has shocked the nation.
Property tycoon Truong My Lan is facing a trial in the country's biggest-ever fraud case, accused of embezzling US$12.5 billion (S$16.7 billion) by investigators after she was arrested in a national corruption crackdown that analysts say has hit the economy and unsettled foreign investors.
Lan, chair of major developer Van Thinh Phat, is said to have swindled the cash from SCB for years, leaving unsuspecting investors out of pocket and leading hundreds to stage rare protests in Hanoi and Ho Chi Minh City.
Ms Nga, who uses a pseudonym to protect her identity, is among the 42,000 victims of the Van Thinh Phat scandal identified by police.
"My children urged me to spend the money, to travel, but I did not. I put my whole life savings there," said the 67-year-old Hanoi resident, showing AFP the bond certificates worth around US$120,000 issued by SCB.
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