Vietnam sentences real estate tycoon Truong My Lan to death in its largest ever fraud case

HANOI, Vietnam — Real estate tycoon Truong My Lan was sentenced Thursday to death by a court in Ho Chi Minh city in southernLan illegally controlled Saigon Joint Stock Commercial Bank between 2012 and 2022 to allow 2,500 loans that resulted in losses of $27 billion to the bank, reported state media VnExpress. The court asked her to compensate the bank $26.9 million.

Former central bank official Do Thi Nhan was also sentenced Thursday to life in prison for accepting $5.2 million in bribes.But it’s the scale of Lan’s trial has shocked the nation. VTP was among Vietnam’s richest real estate firms, with projects including luxury residential buildings, offices, hotels and shopping centers.

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Vietnam sentences real estate tycoon Truong My Lan to death in its largest ever fraud caseHANOI, Vietnam (AP) — Real estate tycoon Truong My Lan was sentenced Thursday to death by a court in Ho Chi Minh city in southern Vietnam in the country's largest financial fraud case ever, state media Thanh Nien said.
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Vietnam Seeks Death for Tycoon in $12 Billion Fraud Case, Media Reports SayA Vietnamese real estate tycoon on trial in a $12 billion fraud case should receive the death penalty for allegedly bribing government officials, violating bank lending regulations and embezzlement, government prosecutors proposed to the Ho Chi Minh City People’s Court, VnExpress news website reported.
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