Vietnamese property tycoon Truong My Lan was sentenced to death for a multi-billion-dollar fraud in April 2024 in one of the biggest corruption cases. Now, the court has rejected her appeal against a conviction for embezzlement and bribery in a high-profile $12 billion fraud case. The trials were broken into two parts due to the number of allegations against her and now, they came up with this decision.
Speaking to the media, she said, “Standing here today is a price too expensive for me to pay. I consider this my destiny and a career accident”. The remaining 33 co-defendants were all convicted of different offenses and given prison terms that ranged from two to twenty-three years. Among them was Lan’s spouse, Chu Nap Kee, who received a two-year term for money laundering.
Apart from the charges of obtaining property through deception, she was charged with fraudulently issuing bonds through four firms to raise $1.2 billion from roughly 36,000 investors. In addition, she was convicted of embezzling $18 billion that was obtained through deception and of using businesses under her control to unlawfully transfer over $4.5 billion into and out of Vietnam between 2012 and 2022. These have affected many people and added to great financial loss to them, pertaining to, such severe punishment of death sentenced is given
