Vietnam tycoon’s death sentence: Key takeaways from 300t dong fraud case

[HO CHI MINH CITY] After a month-long trial, Truong My Lan was sentenced to death by a court in Ho Chi Minh City on Thursday (Apr 11) for masterminding the largest fraud case in Vietnam’s history. She is also the first businesswoman in the country to face capital punishment.

The 67-year-old chairwoman of the real estate empire Van Thinh Phat (VTP) was found guilty of bribery, violations of banking regulations, and embezzlement of 304 trillion dong (S$16.7 billion) from private lender Saigon Joint Stock Commercial Bank (SCB), according to Vietnam’s state media. 

Lan pleaded not guilty to charges of embezzlement and bribery, and refuted allegations of involvement in a slew of companies that had outstanding loans of 300 trillion dong at SCB.