The Guardian
By Rebecca Ratcliffe
April 11, 2024
A prominent property tycoon has been sentenced to death for her role in Vietnam’s biggest-ever fraud case.
Truong My Lan, the chair of the developer Van Thinh Phat, was found guilty of embezzlement, bribery and violations of banking rules on Thursday, in a case that has shocked the country. A total of $12.5bn (£10bn) was embezzled, the equivalent of almost 3% of Vietnamese gross domestic product, but prosecutors said on Thursday the total damages caused by the scam now amounted to $27bn.