A high-profile case in Vietnam has captured international attention, where a billionaire real estate tycoon faces the death penalty for one of the biggest financial scandals in the country’s history. Truong My Lan, 68, was convicted of massive fraud involving over $12 billion and could be executed by lethal injection unless she pays back a staggering $11 billion.
Lan, who once led Van Thinh Phat Holdings Group (VTP), a major real estate developer, was found guilty in April of using her power and influence to embezzle funds from Saigon Commercial Bank (SCB). According to prosecutors, she orchestrated a complex scheme involving shell companies, bribes to government officials, and fraudulent loans over 11 years.
A Sentence That Shook Vietnam
Lan's actions didn’t just impact the bank but also caused unprecedented damage to Vietnam’s economy—equivalent to roughly 6% of the country’s gross domestic product (GDP). For this, she received the harshest sentence under Vietnamese law...
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