Vietnamese Real-Estate Tycoon Sentenced to Death for $12 Billion Fraud
TL;DR Summary
Vietnamese property tycoon Truong My Lan has been sentenced to death for her involvement in the country's largest financial fraud case, which involved embezzlement, bribery, and violating banking rules. Lan, the chairwoman of real estate development firm Van Thinh Phat Holdings Group, was found guilty of appropriating assets from Saigon Joint Stock Commercial Bank by taking out unlawful loans. The loans, totaling $44 billion, accounted for over 90% of the bank's lending between 2012 and 2022. Lan plans to appeal the sentence, which is part of Vietnam's broader crackdown on corruption.
- Vietnamese property tycoon sentenced to death in country’s biggest ever financial fraud, state media reports CNBC
- Vietnam tycoon sentenced to death in $12 billion fraud case CNN
- Vietnam's president resigns in latest twist of anti-graft campaign shaking its fast-growing economy The Associated Press
- Vietnam Real-Estate Tycoon Given Death Penalty, Embezzled 3% of GDP Business Insider
- One of the World's Richest Women Sentenced to Execution The Daily Beast
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