A court has sentenced a top Vietnamese property tycoon to death in one of the biggest corruption cases in history, with an estimated $27 billion in damages. Truong My Lan, chair of major developer Van Thinh Phat, was found guilty of swindling cash from Saigon Commercial Bank over a decade. A panel of three hand-picked jurors and two judges rejected all the defendant's arguments.
Lan’s husband, Hong Kong billionaire Eric Chu Nap Kee, was sentenced to nine years in prison. Lan embezzled $12.5 billion, but prosecutors said Thursday the total damages caused by the scam now amounted to $27 billion — a figure equivalent to six per cent of the country’s 2023 GDP. The court ordered Lan, 67, to pay almost the entire damages sum in compensation.
Source: Law Daily Report (lawdailyreport.net)
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