Vietnam property tycoon sentenced to death in US$12bil fraud case

Truong My Lan in court for her sentencing on April 11, 2024. - AP

HANOI: A court in Vietnam on Thursday (April 11) sentenced real estate tycoon Truong My Lan to death over her role in a 304 trillion dong (US$12.46 billion) financial fraud case, the country's biggest on record,

Lan, the chairwoman of real estate developer Van Thinh Phat Holdings Group, was found guilty of embezzlement, bribery and violations of banking rules at the end of a trial in Vietnam's business hub Ho Chi Minh City, state media reports said.