Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Trump reiterates proposal for Russia and Ukraine to stop at current front line, negotiate later
Reuters: Trump says no discussion regarding Ukraine ceding Donbas to Russia
US Vice President JD Vance: There is currently no security infrastructure in place to ensure the disarmament of Hamas
Israeli occupation forces said that "ceasefire in Gaza begins to be re-implemented."
Israeli media: 'Israel' to halt entry of humanitarian aid into Gaza until further notice.
Al Mayadeen correspondent: One woman was killed and several children were injured as a result of Israeli bombing of displaced Gazans' tents in the Mawasi area of ​​Khan Yunis, south of the Gaza Strip.
Al Mayadeen correspondent in Gaza: An Israeli airstrike targeted the eastern areas of Jabalia, north of the Gaza Strip.
Al Mayadeen correspondent in Gaza: An Israeli airstrike targeted Al-Bureij refugee camp in the central Gaza Strip.
Al-Qassam Brigades: Communication has been severed with what our remaining fighters (if any are still alive) in Rafah, which is currently under occupation's control.
Al-Qassam Brigades says continues to abide by ceasefire, no knowledge of developments in Rafah.

Woman accused of fraud worth 4% of Vietnam's GDP facing death penalty

  • By Al Mayadeen English
  • Source: News websites
  • 20 Mar 2024 16:12
  • 2 Shares
2 Min Read

Prosecutors allege that Truong My Lan orchestrated an embezzlement scheme resulting in more than $20 billion in damages.

  • x
  • Vietnam's property tycoon Truong My Lan (C) arrives at a court in Ho Chi Minh city on March 5, 2024. (AP)
    Vietnam's property tycoon Truong My Lan (C) arrives at a court in Ho Chi Minh City on March 5, 2024. (AP)

A real estate magnate in Vietnam may be subject to the death penalty in a corruption trial for alleged fraud, deemed the largest in the history of the Southeast Asian nation, according to local media reports.

According to court documents cited by the newspaper Vietnam+, Truong My Lan, chairwoman of real estate developer Van Thinh Phat Holdings Group (VTP), purportedly embezzled over 304 trillion dong ($12.5 billion) from Saigon Joint Stock Commercial Bank (SCB).

Lan allegedly controlled SCB through "thousands of ghost companies" between 2012 and 2022. An additional 193 trillion dong ($7.8 billion) in damages resulted from accumulated interest on the loans, allegedly taken by Lan and her accomplices from the bank.

Related News

Russian economy grows 1% in January–August, inflation at 8%

Falling birth rates threaten living standards in rich nations: FT

The purported scam's total damages amount to approximately 498 trillion dong ($20 billion), representing around 4.69% of Vietnam's GDP.

Prosecutors said that Lan had also been accused of bribing officials to ignore her activities, including a payment of $5.2 million, which she allegedly made to a senior central bank inspector. 

The tycoon was arrested when the investigation began in October 2022. Her trial is anticipated to continue until the end of April. Prosecutors are seeking a death sentence for embezzlement, 20 years in prison for bribery, and a potential maximum of 20 years for breaching the country's financial regulations.

“During the trial, Truong My Lan did not admit to the crime, was stubborn, blamed her subordinates, and didn’t show remorse. The defendant’s actions caused extremely serious and irreparable consequences, so Truong My Lan should be permanently removed from society,” Vietnam+ cited the prosecutors saying.

Lan’s representatives have not responded to media requests for comment on the proceedings.

  • GDP
  • Truong My Lan
  • Southeast Asia
  • Vietnam

Most Read

Iran strikes secret Israeli-US bunker under Tel Aviv high-rise

Tel Aviv high-rise struck by Iran hid Site 81, secret US-Israeli base

  • Politics
  • 14 Oct 2025
drop site

New report details extensive Israeli arson in Gaza after ceasefire

  • Politics
  • 13 Oct 2025
Illustration of fists breaking shackles, representing the liberation of Palestinian detainees from Israeli prisons. (Illustrated by: AL Mayadeen English/Batoul Chamas)

4 prominent Palestinian detainees to be freed: Who are they?

  • Palestine
  • 13 Oct 2025
2K Palestinian detainees freed, defy occupation with mass welcome

2K Palestinian detainees freed, defy occupation with mass welcome

  • Politics
  • 13 Oct 2025

Coverage

All
War on Gaza

Read Next

All
Russian banks begin accepting Iranian LCs to boost bilateral trade
Economy

Russian banks begin accepting Iranian LCs to boost bilateral trade

IOF admit to the killing of two soldiers in Gaza
Politics

Israeli occupation forces says two soldiers killed in southern Gaza

President Donald Trump attends a lunch with Ukraine's President Volodymyr Zelenskyy in the Cabinet Room of the White House, Friday, Oct. 17, 2025, in Washington. (AP Photo/Alex Brandon)
Politics

Trump: No Gaza troops, no more arms to Ukraine, tariffs on China

Iranian Foreign Minister Abbas Araghchi speaks in a meeting with ambassadors and representatives of foreign countries in Tehran, Iran, Sunday, Oct. 5, 2025. (AP Photo/Vahid Salemi)
Politics

Iran-China-Russia alliance to counter EU snapback move: Tehran

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS