Latest NewsVietnam: Property tycoon sentenced to death in $27bn fraud case

Vietnam: Property tycoon sentenced to death in $27bn fraud case

A billionaire, property tycoon woman named in a multi-trillion fraud case was sentenced to death in Vietnam.

According to foreign media reports, 67-year-old property tycoon Truong May Lan has been sentenced to death in a bank fraud case in Vietnam.

The billionaire woman has been convicted of illegally taking $44 billion in loans from the Saigon Commercial Bank.

Trung May Lan, the billionaire chairwoman of real estate developer Van Thien Phat Holdings Group, has been sentenced to death for embezzlement, bribery, and violating banking laws, Vietnamese state media said.

According to foreign media reports, 85 other accused were tried along with Truong May Lan, all of whom have been found guilty.

Four of these accused have been sentenced to life imprisonment while the rest of the accused have been sentenced to imprisonment ranging from 20 years to 3 years.

Truong My Lan’s husband and niece were also found involved in the 12.5 billion fraud case and have been sentenced to 9 and 17 years in prison.

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