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
Araghchi: We have always supported Lebanon's sovereignty and territorial integrity at all times, we still do in these difficult circumstances.
Iranian Foreign Minister Abbas Araghchi from Beirut: Lebanon's independence and territorial integrity are of great importance to Iran, we support it against occupation.
Israeli army admits 3 soldiers of rank of Staff Sergeant were killed, 2 others injured in northern Gaza.
Occupied Palestine: Palestinian media: Martyrs and injuries as a result of the Israeli occupation firing on displaced people while they were waiting for aid west of Rafah.
Al Mayadeen's correspondent in occupied Palestine: 3 martyrs, including a child, as a result of Israeli occupation forces bombing displaced persons' tents in Deir al-Balah in the central Gaza Strip.
Israeli media: Yedioth Ahronoth: Concern in "Israel" over changes within the US administration in recent days.
Al-Qassam Brigades says its fighters are engaging in fierce clashes with the occupation forces, killing and wounding soldiers east of Jabalia camp.
Israeli media platforms are circulating preliminary reports about a multi-causalty ambush in Jabalia camp, Gaza.
Al Mayadeen's correspondent: 35 martyrs, 75 injured in occupation targeting of civilians seeking food aid in Rafah, Khan Younis, southern Gaza.
Da Silva: What is happening in Gaza is not a war, it is a genocide

Vietnam tycoon sentenced to death for one of history's biggest frauds

  • By Al Mayadeen English
  • Source: News websites
  • 12 Apr 2024 13:57
2 Min Read

The 67-year-old is found charged with bribery, violating banking regulations, and embezzlement, and the death penalty she was sentenced to was due to the large amount of money stolen.

  • x
  • Vietnamese property tycoon Truong My Lan, center, at a court in Ho Chi Minh city on April 11, 2024. (AFP)
    Vietnamese property tycoon Truong My Lan, center, at a court in Ho Chi Minh City on April 11, 2024. (AFP)

Vietnamese real estate developer Truong My Lan has been sentenced to death by a court in Ho Chi Minh City for Southeast Asia’s largest-ever embezzlement and fraud scheme after a month-long trial.

The 67-year-old is found charged with bribery, violating banking regulations, and embezzlement, and the death penalty is due to the amount of money stolen.

State news outlet VnExpress reported that the defendant “staggered and was supported by the police”.

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).

Related News

Vietnam tycoon's jail term cut to 30 years in $17 bln money laundering

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

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.

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. 

After Lan’s arrest in October 2022, three SCB officials committed suicide.

The tycoon was arrested when the investigation began in October 2022. Prosecutors were 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.

  • Truong My Lan
  • death sentence
  • Vietnam
  • fraud

Most Read

Lebanon's PM Nawaf Salam meets with US envoy Morgan Ortagus in Beirut on April 5, 2025 (Dalati Nohra via AP)AP)

Morgan Ortagus to exit US role in Lebanon amid policy shift

  • Politics
  • 1 Jun 2025
An Israeli army vehicle moves in the Gaza Strip as seen from southern occupied Palestine, Thursday, May 29, 2025 (AP)

Hamas rejects Witkoff ceasefire plan, says alters terms

  • Politics
  • 29 May 2025
Spokesperson for the Yemeni Armed Forces, Brigadier General Yahya Saree, announces a new operation against Ben Gurion Airport on May 29, 2025 (Yemeni Military Media)

Yemen announces successful hypersonic missile strike on Ben Gurion

  • Politics
  • 30 May 2025
It may well be due to the longstanding relationship between MI6 and HTS, via Inter Mediate, that Britain was the first Western country to recognise their assumption of government in Syria. (Al Mayadeen English; Illustrated by Zeinab El-Hajj)

How MI6 helped HTS seize Syria

  • Opinion
  • 31 May 2025

Coverage

All
War on Gaza

Read Next

All
Army commanders tour the operations sectors of the Iraqi army Seventh Brigade, in Anbar, Iraq, Sunday, December 29, 2019 (AP)
Politics

Kataib Hezbollah warns US forces against postponing Iraq withdrawal

(@rafaelmgrossi)
Politics

Egypt urges 'Israel' to join NPT, citing regional nuclear imbalance

AP
Politics

US deal proposal allows Iran to enrich Uranium to low-level

screengrab
Politics

Former Biden spox. Matthew Miller says 'Israel' committed war crimes

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