Vietnamese property tycoon sentenced to death in $27bn fraud case
Truong My Lan found guilty of embezzling from Saigon Commercial Bank in case that was part of wider crackdownA prominent property tycoon has been sentenced to death for her role in Vietnam’s biggest-ever fraud case.Truong My Lan, the chair of the developer Van Thinh Phat, was found guilty of embezzlement, bribery and violations of banking rules on Thursday, in a case that has shocked the country. A total of $12.5bn (£10bn) was embezzled, the equivalent of almost 3% of Vietnamese gross domestic product, but prosecutors said on Thursday the total damages caused by the scam now amounted to $27bn. Continue reading...
Truong My Lan found guilty of embezzling from Saigon Commercial Bank in case that was part of wider crackdown
A prominent property tycoon has been sentenced to death for her role in Vietnam’s biggest-ever fraud case.
Truong My Lan, the chair of the developer Van Thinh Phat, was found guilty of embezzlement, bribery and violations of banking rules on Thursday, in a case that has shocked the country. A total of $12.5bn (£10bn) was embezzled, the equivalent of almost 3% of Vietnamese gross domestic product, but prosecutors said on Thursday the total damages caused by the scam now amounted to $27bn. Continue reading...
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