Real estate tycoon Truong My Lan has been sentenced to death by a court in Ho Chi Minh City in southern Vietnam in the country’s largest financial fraud case ever, state media Vietnam Net said.
Lan had pleaded not-guilty to the embezzlement and bribery charges, Nguyen Huy Thiep, one of Lan’s lawyers told Reuters. Vietnam imposes the death penalty mostly for violent offences but also for economic crimes. Human rights groups say it has executed hundreds of convicts in recent years, mainly by lethal injection.newspaper said 84 defendants in the case received sentences ranging from probation for three years to life imprisonment. Among them are Lan’s husband, Eric Chu, a businessman from Hong Kong, who was sentenced to nine years in jail, and her niece who got 17 years.
The court found that she used this approach to tap SCB for cash. She indirectly owned more than 90 per cent of the bank — a charge she denied — and approved thousands of loans to “ghost companies,” according to government documents. These loans then found their way back to her, state media VNExpress reported, citing the court’s findings.Former central bank official Do Thi Nhan was also sentenced Thursday to life in prison for accepting $US5.2 million in bribes.
Source: News Formal (newsformal.com)
Real Estate Tycoon Death Sentence Financial Fraud Vietnam Corruption
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