Vietnam to sell tycoon’s yacht and Hermes bags to pay for fraud

Lan, 69, who rose from selling make-up and hair accessories to become one of the nation’s most influential property executives, is facing decades behind bars. - VNA/VNS

HANOI: Vietnamese property tycoon Truong My Lan pleaded with the court to let her keep two Hermes Birkin Himalaya handbags made of crocodile skin from the Nile River after she was convicted of embezzling more than US$12 billion.

Though she expressed a willingness to part with prime real estate in Vietnam’s commercial hub Ho Chi Minh City to compensate for financial damages she caused, the purses were personal, Lan told judges during one of her trials, the Phap Luat Ho Chi Minh City news website reported.