Truong My Lan, a 68-year-old Vietnamese real estate tycoon, has lost her appeal against her death sentence for being behind the world’s biggest bank fraud, as reported by the BBC.
She was convicted of illegally controlling Saigon Commercial Bank and stealing billions over 10 years. In total, she took around $44 billion, with $27 billion misappropriated and $12 billion embezzled.
This crime is one of the largest financial frauds in history, and Truong My Lan’s death sentence shocked many because few women in Vietnam face the death penalty for such crimes.
Despite the court upholding her death sentence, there is still a chance she could avoid execution. If she can pay back $9 billion, which is 75% of the money she embezzled, her sentence might be reduced to life imprisonment.
Truong My Lan is working hard to raise this money, even reaching out to friends for help and trying to sell luxury properties. However, the process has been difficult because many of her assets are real estate, which can take time to sell.
Her lawyers argued that if she were given a life sentence instead of the death penalty, it would be easier for her to sell her assets at a better price and raise the funds.
Truong My Lan’s case is part of Vietnam’s broader anti-corruption campaign, which has led to the conviction of several other high-profile individuals, including her family members.
The state is also holding over a thousand of her assets, including properties and shares in other businesses, which have been frozen for now.
While Vietnam has one of the largest death row populations in the world, Truong My Lan’s case stands out due to the massive scale of the crime.
If she cannot raise the required money, her life may end on death row, though there is still some hope if she can meet the financial goal in time.
The BBC notes that this case has drawn significant attention due to its unprecedented scale and the high stakes involved for Truong My Lan’s survival.
https://www.bbc.com/news/articles/cd753r47815o