"Vietnam's Real Estate Tycoon Sentenced to Death in $12 Billion Fraud Case Sends Shockwaves Through Business Community"

Vietnamese real estate tycoon Truong My Lan has been sentenced to death for her involvement in a $12.5 billion fraud case, which is nearly 3% of the country’s 2022 GDP. She was accused of illegally controlling a major bank and allowing loans that resulted in $27 billion in losses, as well as paying bribes to government officials. Her arrest is part of an intensifying anti-corruption drive in Vietnam, led by Communist Party General Secretary Nguyen Phu Trong, and has raised concerns about similar practices in other banks and businesses, impacting the country's economic outlook and foreign investor confidence.