Vietnam tycoon sentenced to death in $12 billion fraud case [View all]

A court in Vietnam sentenced real estate tycoon Truong My Lan Thursday to death over her role in a 304 trillion dong ($12.46 billion) financial fraud case, the country’s biggest on record, state media reported.

Her trial, begun on March 5 and ending earlier than planned, was one dramatic result of a campaign against corruption that the leader of the ruling Communist Party, Nguyen Phu Trong, has pledged for years to stamp out.

Lan, the chairwoman of real estate developer Van Thinh Phat Holdings Group, was found guilty of embezzlement, bribery and violations of banking rules at the end of a trial in the business hub of Ho Chi Minh City, state media said.

“We will keep fighting to see what we can do,” a family member told Reuters, speaking on condition of anonymity. Before the verdict he had said Lan would appeal against the sentence.

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https://edition.cnn.com/2024/04/11/business/truong-my-lan-vietnam-fraud-death-sentence/index.html