Drama unfolds in Vietnam 🇻🇳 as real estate tycoon Truong My Lan swaps a death sentence for life in prison!
Just when you thought the story couldn't get any wilder, Lan, the chairwoman of Van Thinh Phat Holdings Group, was handed a life sentence on Thursday. This comes after she was already sentenced to death back in April in a separate trial. 😱
Accused of some serious financial mischief, Lan was found guilty of fraudulently obtaining property, money laundering, and sneaking money across borders illegally, according to the state-run Tuoi Tre newspaper.
Despite acknowledging many of her wrongdoings, Lan denied playing a role in directing bond issuances that were part of the fraudulent activities. 🧐
But she wasn't alone in this courtroom saga! Alongside her, 33 others, including her husband and niece, received sentences ranging from 2 to 23 years behind bars. Talk about a family affair gone wrong!
At 67 years old, Lan's legal troubles are far from over. Earlier this year, she was convicted in Vietnam's largest-ever financial fraud case, involving a staggering $12.5 billion—nearly 3% of the country's 2022 GDP! 💸 She was also found guilty of illegally controlling the Saigon Commercial Bank, leading to loan losses amounting to $27 billion.
This case has not only shocked Vietnam but has also caught the world's attention, shedding light on issues of corruption and financial crime in the region.
Stay tuned for more updates on this unfolding story!
Reference(s):
Vietnam's death-row tycoon Truong My Lan given life in prison
cgtn.com
