A court in Vietnam has upheld the death sentence for real estate tycoon Truong My Lan but said it could be commuted to life if she reimburses some $11 billion.
A court in Vietnam on Tuesday upheld the death sentence for real estate tycoon Truong My Lan but said it could be commuted to life in prison if she reimburses some $11 billion, or three-fourths of what she defrauded in the country’s biggest financial crime. The scale of her fraud shocked the nation, with analysts raising questions about whether other banks or businesses had engaged in similar conduct.
Under Vietnamese law, death sentences aren't immediately carried out and there is an extended legal process, said Nguyen Khac Giang, a visiting fellow in the Vietnam Studies Program at Singapore’s ISEAS–Yusof Ishak Institute. He added that Lan would seek another review of the case or a presidential pardon to reduce her sentence. Her arrest was among the most high-profile in an anticorruption drive in Vietnam that intensified after 2022.
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