Property tycoon to stand trial for US$12.5bil fraud case that shocked Vietnam

Property tycoon Truong My Lan is facing a trial in the country's biggest ever fraud case after being arrested in a national corruption crackdown. - AFP

HANOI: Retired nurse Nga put her life savings into a bond at Vietnam's SCB bank, but now cannot access her money after being caught up with tens of thousands in a multibillion-dollar scam that has shocked the nation.

Now, property tycoon Truong My Lan is facing a trial in the country's biggest ever fraud case, accused of embezzling US$12.5 billion by investigators after being arrested in a national corruption crackdown analysts say has hit the economy and unsettled foreign investors.