Vietnam Plans Auction of Tycoon Truong My Lan’s Hermès Birkin Bags to Reimburse Fraud Losses

Ho Chi Minh City authorities are auctioning Truong My Lan’s assets — including two crocodile-skin Hermès Birkin bags and a luxury yacht — to help cover about $27 billion in reparations from a bank-fraud case tied to Saigon Commercial Bank; she was sentenced to death in 2024, later commuted to life in prison as Vietnam abolished the death penalty for some crimes, and authorities have seized hundreds of assets to compensate victims.