Hello and welcome to the details of Vietnam tycoon appeals against US$27b fraud death sentence and now with the details
Nevin Al Sukari - Sana'a - This photo taken on December 7, 2023 shows a security guard standing in front of an office building of the Van Thinh Phat group in Ho Chi Minh City. Truong My Lan, chair of Van Thinh Phat, was found guilty this month of swindling cash from Saigon Commercial Bank over a decade. — AFP pic
HANOI, April 26 — A top Vietnamese property tycoon sentenced to death in a US$27 billion (RM128 billion) fraud case has launched an appeal against her conviction, state media said today.
Truong My Lan, chair of major developer Van Thinh Phat, was found guilty this month of swindling cash from Saigon Commercial Bank (SCB) over a decade.
The 68-year-old was found to have embezzled US$12.5 billion, but prosecutors said the total damages caused by the scam now amounted to US$27 billion — one of the biggest frauds in history, equivalent to six per cent of Vietnam’s 2023 GDP.
Advertisement
Thanh Nien news site said Lan has filed an appeal against the verdict and sentence and that the court in Ho Chi Minh City had received it.
Lan said in her appeal she took on risks through the bank but did not appropriate the bank’s money.
After a five-week trial, 85 others were sentenced alongside Lan on charges ranging from bribery and abuse of power to appropriation and violations of banking law.
Advertisement
Four were given life imprisonment, while the others received jail terms ranging between 20 years and three years suspended.
Police have identified around 42,000 victims of the scandal, which has shocked the Southeast Asian country.
The case was part of a national corruption crackdown that has swept up numerous officials and members of Vietnam’s business elite in recent years.
The latest scalp was the head of the National Assembly, who resigned on Friday because of “violations and shortcomings”, according to a party statement.
And yesterday, the head of one of Vietnam’s top soft drinks companies was jailed for eight years in a US$40 million fraud case. — AFP
These were the details of the news Vietnam tycoon appeals against US$27b fraud death sentence for this day. We hope that we have succeeded by giving you the full details and information. To follow all our news, you can subscribe to the alerts system or to one of our different systems to provide you with all that is new.
It is also worth noting that the original news has been published and is available at Malay Mail and the editorial team at AlKhaleej Today has confirmed it and it has been modified, and it may have been completely transferred or quoted from it and you can read and follow this news from its main source.
