Ho Chi Minh City, Vietnam (Agencies): A Vietnamese court has upheld the death sentence for former real estate tycoon Truong My Lan, who was convicted of orchestrating a $27 billion (€25.7 billion) fraud. This amount is nearly 3% of Vietnam’s GDP for 2022, highlighting the significant impact of the financial scandal. The court ruled that there were no mitigating circumstances to reduce the sentence for embezzlement and bribery.
The court ruled that there were no mitigating circumstances to reduce the sentence for embezzlement and bribery.
However, the court noted that under Vietnamese law, the death sentence could be commuted to life imprisonment if Lan repays at least three-quarters of the misappropriated funds. During the appeal process, Lan expressed her willingness to pay the debt in full.
Lan’s case is part of Vietnam’s intensified anti-corruption campaign known as the “Blazing Furnace,” which has targeted high-level corruption across various sectors.