A top Vietnamese property tycoon has been sentenced to death in one of the biggest corruption cases in history, with an estimated $27 billion in damages. Truong My Lan, the chair of major developer Van Thinh Phat, was found guilty of swindling cash from Saigon Commercial Bank over a decade. The verdict stated that her actions eroded people's trust in the leadership of the Communist Party and state. Lan denied the charges and blamed her subordinates. 85 others also face verdicts and sentencing on various charges.
Ho Chi Minh City — A top Vietnam ese property tycoon was sentenced to death on Thursday in one of the biggest corruption cases in history, with an estimated $27 billion in damages. A panel of three hand-picked jurors and two judges rejected all defense arguments by Truong My Lan, the chair of major developer Van Thinh Phat, who was found guilty of swindling cash from Saigon Commercial Bank over a decade. 'The defendant's actions...
'I am so angry that I was stupid enough to get involved in this very fierce business environment — the banking sector — which I have little knowledge of.'Hundreds of people began to stage protests in the capital Hanoi and Ho Chi Minh City, a relatively rare occurrence in the one-party communist state, after Lan's arrest in October 2022. Police have identified around 42,000 victims of the scandal, which has shocked the Southeast Asian country.
Vietnam Property Tycoon Corruption Death Sentence Damages Saigon Commercial Bank Communist Party Sentencing
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