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Home Asia Pacific

Vietnamese Real Estate Tycoon Sentenced to Death in $12 Billion Fraud Case

NEWSROOM by NEWSROOM
April 11, 2024
in Asia Pacific, Sports
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Truong My Lan, a Vietnamese real estate tycoon, was sentenced to death on Thursday for her role in a financial fraud case, in a major display of the ruling Communist Party’s resolve to crack down on corruption.

A court in Ho Chi Minh City sentenced Ms. Lan, who was arrested in 2022 and faced charges of bribing government officials, violating banking regulations and embezzling more than $12 billion from one of Vietnam’s largest banks.

The trial for Ms. Lan, who was the chairwoman of the real estate developer Van Thinh Phat Group, was part of the government’s campaign against corruption….



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