Vietnamese real estate tycoon faces death penalty for $12 billion fraud in a shocking ruling. Read more about the controversial case!
Vietnam made headlines as a court sentenced real estate tycoon Truong My Lan to death in a staggering $12.46 billion financial fraud case, shaking the business world. Lan, found guilty of embezzlement and bribery, faced the severe punishment in Ho Chi Minh City. The trial, described as one of the most spectacular in Vietnam, shed light on massive bank frauds. Lan's actions eroded people's trust, leading to the unprecedented ruling.
In Vietnam's largest-ever fraud trial, prosecutors revealed that Lan embezzled approximately 3% of the country's 2022 GDP, a shocking revelation. The case highlighted the deep-rooted issue of white-collar crimes in the country. Additionally, Vietnam's secretive government added intrigue to the proceedings, with the communist regime's discreet handling of state-sanctioned executions drawing international attention.
Truong My Lan's conviction for embezzling $12.54 billion from Saigon Commercial Bank over a decade exposed the staggering extent of corruption in the financial sector. This landmark case emphasized the need for stricter financial regulations and transparency in Vietnam's business landscape. Furthermore, human rights groups raised concerns about the country's liberal use of the death penalty for white-collar crimes, sparking debates worldwide.
Despite the lack of official data on state executions, Vietnam's communist regime operates a clandestine
Vietnam's death penalty is used as punishment for white-collar crimes, according to human rights groups.
A court in Vietnam sentenced real estate tycoon Truong My Lan Thursday to death over her role in a 304 trillion dong ($12.46 billion) financial fraud case, ...
Lan was found guilty of embezzlement, bribery and violations of banking rules at the end of a trial in the business hub of Ho Chi Minh City, state media said.
It was the most spectacular trial ever held in Vietnam, befitting one of the greatest bank frauds the world has ever seen. Behind the stately yellow portico ...
A Vietnam court sentenced developer Truong My Lan to death for swindling billions from a bank, saying she "eroded people's trust" in the ruling Communist ...
In Vietnam's largest-ever fraud trial, a tycoon was sentenced to death. Prosecutors said she embezzled $12 billion, about 3% of Vietnam's 2022 GDP.
Truong My Lan was found guilty of embezzling an astonishing $12.54 billion from Saigon Commercial Bank in the decade to 2022.
Vietnam and its communist government is famously secretive about its state-sanctioned executions. But while there is a lack of data, rights groups believe ...
Vietnamese tycoon Truong My Lan arrives at the Ho Chi Minh City People's Court on Tuesday, March 5, 2024, for her $12 billion fraud trial. Maika ElanโBloomberg/ ...
Truong My Lan, a prominent Vietnamese businesswoman, was given a death sentence for a $12.5 billion fraud.
Death sentences are not uncommon in Vietnam, but it is rare in financial crime cases and for someone this well known.
Truong My Lan, the 67-year-old chairwoman of the real estate company Van Thinh Phat, was formally charged with fraud amounting to $12.5 billion โ nearly 3% ...
Real estate tycoon Truong My Lan, who was sentenced to death Thursday by a court in Ho Chi Minh city for orchestrating the country's largest ever financial ...
A court in Vietnam on Thursday ordered the death penalty for a real estate tycoon found guilty in a financial fraud case totalling more than $12 billion US.
Truong My Lan received the death penalty as Vietnam's Communist Party cracks down on corruption in the fast-growing Southeast Asian economic hub.
Vietnamese property tycoon Truong My Lan, in the center, looks on at a court in Ho Chi Minh city on April 11, 2024. STR/AFP via Getty Images.
Real estate tycoon Truong My Lan was sentenced to death for orchestrating the country's largest ever financial fraud case.
NPR's Ari Shapiro talks with Associated Press reporter Aniruddha Ghosal about the largest-ever fraud case in Vietnam. The real estate tycoon at the center ...
The death sentence handed to a real estate tycoon in a $12.5 billion financial fraud case is the latest punishment meted out by Vietnam in the Southeast ...