US EditionVietnamese Billionaire Truong My Lan's Death Sentence Upheld in $12.5 Billion Fraud Case
- A Vietnamese court upheld the death penalty for property tycoon Truong My Lan in a $12 billion fraud case after rejecting her appeal against her conviction for embezzlement and bribery.
- Truong My Lan, aged 68, was convicted of embezzling $12.5 billion and was linked to $27 billion in losses at Saigon Commercial Bank from 2012 to 2022.
- The court stated that her death sentence could be reduced to life imprisonment if she pays back three quarters of the assets she embezzled.
198 Articles
198 Articles
Vietnam court upholds death sentence for tycoon in $12bn fraud case
A court in Vietnam on Tuesday upheld a death sentence for real estate tycoon Truong My Lan after rejecting her appeal against a conviction for embezzlement and bribery in a high-profile $12bn (R217.80bn) fraud case, state media reported.
Vietnamese real estate mogul Truong My Lan lost on Tuesday the appeal against her death sentence to which she was convicted for planning the world's largest bank fraud.The 68-year-old woman now struggles to save her life, as Vietnam law states that if she can return 75% of what she defrauded, her sentence can be commuted to life imprisonment.In April, the court of first instance determined that Truong My Lan had secretly controlled Saigon Commer…
Vietnam real estate tycoon faces death penalty in $12.5B fraud case
A Vietnamese court has upheld the death sentence for real estate tycoon Truong My Lan in one of the largest fraud cases in the country’s history. Lan, chairwoman of the Van Thinh Phat Group, was convicted of embezzling $12.5 billion through fraudulent schemes, disrupting Vietnam’s banking sector and raising concerns about financial oversight. Lan was found guilty of using her control of Saigon Commercial Bank (SCB) to issue more than 2,500 fraud…
Vietnam court upholds death sentence for property tycoon
Ho Chi Minh City, Vietnam — A Vietnamese court upheld the death penalty Tuesday for a property tycoon in a multibillion-dollar fraud case — but said her life could still be spared if she paid back three quarters of the assets she embezzled. Property developer Truong My Lan, 68, was convicted this year of swindling money from Saigon Commercial Bank (SCB) — which prosecutors said she controlled — and sentenced to death for fraud totalling $27 bill…
Vietnam court may commute tycoon's death sentences if she repays US$11 billion
A court in Vietnam on Tuesday upheld the death sentence for real estate tycoon Truong My Lan but said it could be commuted to life if she reimburses some US$11 billion, or three-fourths of what she defrauded in the country's largest financial crime.
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