Vietnam tycoon’s plea against death upheld
The death sentence for real estate tycoon Truong My Lan was upheld Tuesday in Vietnam’s largest fraud case, the scale of which had raised concerns about the economy.
She had been convicted in April of embezzlement and bribery over the fraud amounting to $12.5 billion, nearly 3 per cent of Vietnam’s 2022 GDP. The court in Ho Chi Minh rejected her appeal against the conviction while adding that her death sentence could be commuted to life if she reimburses three-fourth of the losses, working out to around $11 billion. Her lawyers argued that she had repaid but the court said there were legal issues with seized properties.
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