: A Vietnamese property tycoon sentenced to death in a $27 billion fraud case could now face prosecution for money laundering, state media said Thursday.
Police said late Wednesday that they are seeking to prosecute 34 people in the same case, accusing them of fraud, money laundering and cross-border money trafficking.Between 2012 and 2022, Lan used nearly 1,300 fake loan applications to withdraw money from SCB, in which she owned a 90 percent stake, a court found.
Lan embezzled $12.5 billion, but prosecutors said the total damages caused by the scam amounted to $27 billion -- a figure equivalent to six percent of the country's 2023 GDP.Authorities identified around 42,000 victims in the case.Police said late last year that much of the cash had been invested in real estate projects or trafficked abroad.