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Vietnam Tycoon Lan Truong My in Court Before Receiving Death Sentence
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April 11, 2024
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0:37Now PlayingA Vietnam court sentenced real estate tycoon Truong My Lan to death for her role in a $12 billion fraud case, underscoring the Communist Party’s determination to crack down on corruption.
Lan, 67, the chairwoman of Van Thinh Phat Group, was arrested in 2022 and eventually faced charges including bribery of government officials and violation of bank lending rules. The main case against her was that she embezzled funds from Saigon Commercial Bank between February 2018 and October 2022.
Under Vietnamese criminal procedure law, Lan is eligible to appeal the Ho Chi Minh City People’s Court verdict within 15 days. While the death penalty was awarded on the embezzlement charge, the court also sentenced her to 20 years in prison each on two other charges — violating banking regulations and offering bribes.
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