Rogue Vietnam banker jailed for 30 years over $1 billion fraud

HANOI: A Vietnamese court jailed a tycoon and former banker for 30 years on Monday for his part in a series of elaborate financial scams worth $1.1 billion that have become one of the country's most high-profile banking scandals.

Nguyen Duc Kien, 50, founder of Asia Commercial Bank , one of Vietnam's largest private lenders, was found guilty of a litany of crimes along with seven co-conspirators who used "sophisticated and cunning tricks" to deprive depositors and companies of hundreds of millions of dollars.