Vietnamese Real Estate Fraud Trial
Vietnamese Tycoon Sentenced to Death in $12.5 Billion Fraud Case
Truong My Lan, a Vietnamese real estate tycoon and former chair of major developer Van Thinh Phat, was sentenced to death on Thursday for her role in a financial fraud case. The fraud amounted to approximately $12.5 billion (304 trillion dong) from Saigon Joint Stock Commercial Bank between 2012 and 2022. Lan was arrested in October 2022 and faced charges of bribing government officials, violating banking regulations, and embezzlement.
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