Vietnamese property tycoon Truong My Lan is in a race to avoid execution after being sentenced to death for masterminding a massive bank fraud.
The court found that she had secretly controlled Saigon Commercial Bank and misappropriated $27 billion, with $12 billion judged to have been embezzled.
To avoid execution, Truong My Lan must repay 75% of the embezzled amount, which totals approximately $9 billion. This condition, if met, will commute her death sentence to life imprisonment. The challenge lies in liquidating her assets, which include luxury properties and shares in various businesses.
Her case has drawn significant attention due to the unprecedented scale of the fraud and its impact on Vietnam’s financial market. The court’s decision underscores the severity of her crimes and the government’s commitment to combating corruption.