The Vietnamese property tycoon Truong My Lan was sentenced to death on Thursday for her involvement in the country's biggest ever financial fraud case, state media reported.The case is part of a wider anti-corruption crackdown by Vietnam's ruling Communist party.
Lan was found guilty of embezzlement, bribery and violating banking rules around lending. She was sentenced to death for the embezzlement charges and to 20 years in prison for each of the other two accusations, according to state media. However, witnesses who held large stakes themselves told the court that they were instructed to act on Lan's behalf. Judges therefore found that Lan holds a controlling stake of over 90% in SCB through proxies and was the de-facto owner of the bank, local media reported.worth a total of $44 billion and accounted for over 90% of SCB's lending between 2012 and 2022. Around $12.3 billion were allegedly funnelled to Van Thinh Phat while other funds were used privately.
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