Property developer Truong My Lan, 68, was convicted this year of swindling money from Saigon Commercial Bank (SCB)
Property developer Truong My Lan, 68, was convicted this year of swindling money from Saigon Commercial Bank (SCB)
Property developer Truong My Lan, 68, was convicted this year of swindling money from Saigon Commercial Bank (SCB), and was sentenced to death for fraud totalling $27 billion. She was told she could spare her life is she paid back 3/4ths of the stolen assets.
Truong My Lan, a prominent Vietnamese property developer and chair of Van Thinh Phat Group, was sentenced to death in April 2024 for defrauding the Saigon Commercial Bank (SCB) of approximately $12 billion. The fraud, which spanned over a decade, is one of Vietnam’s largest corruption cases. Following this conviction, she now faces additional charges of money laundering and illegal cross-border cash trafficking, alongside 33 other defendants.
Authorities have offered her a chance to commute the death sentence if she repays at least 75% of the stolen funds. This high-profile case has drawn significant attention as it highlights systemic corruption in Vietnam’s financial and property sectors
