Vietnam real estate tycoon to face trial in March in US$12bil fraud case: Report


HANOI: The chairwoman of Vietnam real estate developer Van Thinh Phat Holdings Group will go on trial in March over accusations of embezzlement, state media reported on Wednesday (Jan 10), in the country's most high-value fraud case on record.

Truong My Lan (pic) and dozens of accomplices were accused of siphoning off 304 trillion dong (US$12.46 billion), or around 3% of Vietnam's gross domestic product, from Saigon Joint Stock Commercial Bank.

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Vietnam , tycoon , Truong My Lan , real estate , trial

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