A property tycoon has been sentenced to death in Vietnam after the biggest fraud trial in the country’s history.
Truong My Lan was sentenced on Thursday by a court in Ho Chi Minh City.
The 67-year-old chair of the company Van Thinh Phat was accused of fraud amounting to $12.5bn – nearly 3% of the country’s GDP in 2022.
She illegally controlled the Saigon Joint Stock Commercial Bank between 2012 to 2022 to siphon off these funds through thousands of ghost companies and by paying bribes to government officials.
Lan’s arrest in October 2022 was among the most high-profile in an ongoing anti-corruption drive in Vietnam.
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