Vietnamese property developer Truong My Lan was sentenced to death on Thursday, at the colonial-era courthouse in Ho Chi Minh City for looting one of the country’s largest banks over a period of 11 years.
The Vietnamese billionaire was pronounce guilty of taking a huge amount of $44bn (£35bn) loan from the Saigon Commercial Bank which Truong My Lan denied the charges and can appeal.
All of the defendants were found guilty. Four received life in jail. The rest were given prison terms ranging from 20 years to three years suspended. Truong My Lan’s husband and niece received jail terms of nine and 17 years respectively.
She is one of the few women in Vietnam to receive a death sentence for a white-collar crime, thus this is an unusual decision.
The decision is a reflection of the fraud’s astounding scope. After being found guilty, Truong My Lan borrowed $44 billion (£35 billion) from the Saigon Commercial Bank. As per the verdict, she must return $27 billion, a figure that the prosecution claimed might never be retrieved. part people think the court is attempting to get her to return part of the billions that have gone missing by imposing the death penalty.
