Billionaire real estate tycoon Truong My Lan was sentenced to death by a court in Ho Chi Minh City in southern Vietnam on Thursday in the country's biggest ever financial fraud case, state media Thanh Nien reported. Lan, head of the Van Thinh Phat property development group, was found guilty of embezzlement, bribery and violations of banking rules. The 67-year-old and her accomplices were charged with a $12.5 billion fraud, the largest in the country's history. The trial, which began on March 5 and ended earlier than expected, came amid an anti-corruption campaign that ruling Communist Party leader Nguyen Phu Trong has vowed for years to stamp out if and with little tangible results. In 2022, Vietnam's stock market recorded losses of $40 billion after a series of arrests of big business executives, undermining investor confidence at a sensitive time for the fast-growing economy. The catalogue […]
Source: News Beast
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