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$16b fraud: Vietnam court upholds death sentence for tycoon
The Straits Times
|December 04, 2024
HANOI - A court in Vietnam on Dec 3 upheld a death sentence for real estate tycoon Truong My Lan, after rejecting her appeal against a conviction for embezzlement and bribery in a high-profile US$12 billion (S$16 billion) fraud case, state media reported.
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Lan, chairwoman of real estate developer Van Thinh Phat Holdings Group, was sentenced to death in April for her role in what was Vietnam's biggest financial fraud case on record.
The High People's Court in Ho Chi Minh City determined there was no basis to reduce the tycoon's death sentence, reported online newspaper VnExpress.
If Lan is able to return three-quarters of the money embezzled while on death row, it is possible the sentence could be commuted to life imprisonment, the report said.
This story is from the December 04, 2024 edition of The Straits Times.
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