A 67-year-old Vietnamese billionaire, Truong My Lan, is to be executed for fraud.
Looting one of the nation’s largest banks earned the property developer the death penalty.
However, Truong My Lan was required to pay $27bn, which the prosecutor indicated may need to be collected.
Legit. Ng reporter With over seven years of journalism and writing expertise, Bada Yusuf is an accomplished politics and current affairs editor. Vietnam’s most spectacular trial fit the world’s largest bank fraud.
In Ho Chi Minh City’s yellow courthouse entrance since colonial times, 67-year-old Vietnamese property developer Truong My Lan was sentenced to death for 11 years of frauding one of the country’s top banks.
Why Vietnam billionaire received a death sentence, My Lan was one of the few Vietnamese women executed for a white-collar crime.
The BBC says the ruling reflects the crime’s massive scope. My Lan was convicted of borrowing $44bn (£35bn) from the Saigon Commercial Bank.
The decision required her to refund $27bn, which the prosecutor argued may never be recovered. Some say the court should execute her to get her to return mission billions.
Truong My Lan’s execution details The media received candid information from the secretive communist authorities about the fraud.
They said 2,700 people testified against her, and ten state prosecutors and 200 lawyers prosecuted her.
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Evidence was found in 104 cartons, which weighed six tonnes. Although Truong My Lan contested the charges and can appeal, 85 others were tried with her. The court convicted all defendants, but four received life sentences.
Others received 20–3 years in prison. The husband and niece received nine and 17 years, respectively.
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