"Vietnamese Tycoon Lan Sentenced to Death for $12 Billion Fraud"

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Source: The Daily Beast
"Vietnamese Tycoon Lan Sentenced to Death for $12 Billion Fraud"
Photo: The Daily Beast
TL;DR Summary

Truong My La Lan, one of the world's richest women, has been sentenced to execution by a Vietnamese court after being convicted of embezzling $44 billion from the country's largest bank. The trial exposed the lavish lifestyle of Vietnam's elite and involved 85 co-conspirators, including her husband and banking regulators. Lan, who built her empire through property and shell companies, has been ordered to repay $27 billion, but much of the money is feared to be unrecoverable. The case has shed light on widespread corruption and bribery in Vietnam, and the verdict is seen as a warning to others involved in similar schemes.

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