Tycoon’s death penalty in $12.5 billion fraud case highlights Vietnam’s corruption crisis

Thursday’s ruling against Truong My Lan, the former chairwoman of property developer Van Thinh Phat Holdings Group, follows the resignation of two presidents in just over a year, in departures linked to separate allegations of wrongdoing. The sheer scale of Lan’s misconduct has rattled the public in a country that has long projected an image of authoritarian stability, analysts say — and raised alarm among foreign investors, a key driver of Vietnam’s booming economy.

“In Vietnam, the state controls so much — the economy, access to capital and land as well as the press. “People are pissed off about what’s been happening in what is supposed to be a classless society.” The gap between the lifestyles of the average Vietnamese and those of the party’s top brass is a touchy subject.

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Female Vietnamese Real Estate Tycoon Sentenced to Death in $12 Billion Fraud CaseSource of breaking news and analysis, insightful commentary and original reporting, curated and written specifically for the new generation of independent and conservative thinkers.
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Vietnam tycoon sentenced to death in $12 billion fraud caseA 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.
Source: cnni - 🏆 326. / 59 Read more »