World News

Vietnam Tycoon Lan Sentenced to Death Over $12 Billion Fraud

A Vietnamese court has sentenced real estate tycoon Truong My Lan to death for his role in a $12 billion fraud case, underscoring the Communist Party’s determination to crack down on corruption.

Lan, 67, chairwoman of the Van Thinh Phat Group, was arrested in 2022 and eventually faced charges including bribing government officials and violating bank lending rules. The main case against her was that she misappropriated funds from Saigon Commercial Bank between February 2018 and October 2022.

News Source : www.bloomberg.com
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