8 sources·Business

Vietnam Court Upholds Death Sentence for Real Estate Tycoon Truong My Lan

Truong My Lan's death sentence remains after her appeal was denied, though she may avoid execution if she repays a significant portion of embezzled funds.

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Updated: Dec 3rd, 2024, 10:09 AM ET

Summary

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A Vietnamese court upheld Truong My Lan's death sentence for orchestrating a $12 billion fraud, while allowing potential commutation to life imprisonment if she repays three-quarters of the funds. Lan, chairwoman of Van Thinh Phat Holdings, was convicted of embezzlement and bribery, setting off a large financial scandal. Her attempts to appeal focused on mitigating circumstances and the recovery of embezzled assets, crucial for reducing her sentence. Despite her legal battles, Lan faces significant challenges in liquidating assets to meet repayment demands.

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