A court in Vietnam handed the death sentence on Thursday to real estate tycoon Truong My Lan for her role in a $12.5-billion financial fraud, the country's biggest on record, state media said.

Vietnam tycoon sentenced to death in $12.5 billion fraud case

Reuters

A court in Vietnam handed the death sentence on Thursday to real estate tycoon Truong My Lan for her role in a $12.5-billion financial fraud, the country&#x27;s biggest on record, state media said.Lan, the chairwoman of real estate developer Van Thinh Phat Holdings Group, was found guilty of embezzlement, bribery and violations of banking rules at the end of a trial in Vietnam&#x27;s business hub Ho Chi Minh City, according to state media.Lan had pleaded not-guilty to the embezzlement and bribery charges, Nguyen Huy Thiep, one of Lan&#x27;s lawyers told Reuters. And a family member told Reuters Lan would appeal against the sentence.Her trial, which begun on March 5 and ended earlier than planned, was one dramatic result of a campaign against corruption that the leader of the ruling Communist Party, Nguyen Phu Trong, has pledged for years to stamp out.Vietnam&#x27;s graft crackdown, dubbed &quot;Blazing Furnace&quot;, has seen hundreds of senior state officials and high-profile business executives prosecuted or forced to step down. At one point in 2022, Vietnamese stocks suffered a $40 billion wipeout following a series of big corporate arrests, rattling investor confidence at a delicate moment for the fast-growing economy.<div>(Production: Minh Nguyen, Ivan Romero)</div>

A court in Vietnam handed the death sentence on Thursday to real estate tycoon Truong My Lan for her role in a $12.5-billion financial fraud, the country's biggest on record, state media said.

Vietnam tycoon sentenced to death in $12.5-B fraud case

Vietnam tycoon sentenced to death in $12.5 billion fraud case | ABS-CBN

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Vietnam tycoon sentenced to death in $12.5 billion fraud case

Vietnam tycoon sentenced to death in $12.5 billion fraud case

Reuters

Published Apr 12, 2024 08:11 AM PHT

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