She was sentenced to death! $19.9 billion in the case

author：New Gansu client 2024-04-12 14:03:00

Hanoi, April 11 (Xinhua) -- After a month-long trial, the Ho Chi Minh City People's Court sentenced Truong My Lanh, former chairman of Vietnam's VTP Group, to death in the first instance, according to a report by the Vietnam News Agency (VNA) on April 11.

Truong My Lan (Picture: Global Times) reported that the Ho Chi Minh City People's Court said that Truong My Lan was guilty of embezzlement and sentenced to death, for bribery and sentenced to 20 years in prison, and for violating the relevant regulations on banking activities. The punishment for several crimes shall be combined and the death penalty shall be imposed.

According to the indictment filed by Vietnam's Supreme People's Procuratorate, Truong My Lan used bribery and other illegal means to acquire 85 to 91.5 percent of the shares of Saigon Commercial Bank, causing the bank a loss of about 498 trillion VND (about 19.9 billion U.S. dollars).

The indictment also said that Truong My Lan's crime was divided into two stages: from January 1, 2012 to December 31, 2017, Truong My Lan violated the relevant regulations on the bank's business activities and caused losses of more than VND64 trillion (about US$2.5 billion) to Saigon Commercial Bank, and from January 1, 2018 to October 7, 2022, Truong My Lan was suspected of embezzlement, and the assets and interest generated caused losses of VND433 trillion (about US$17.3 billion) to the bank.

Born in October 1956 in Saigon City (present-day Ho Chi Minh City) in southern Vietnam, Truong My Lan founded VTP Group, one of the largest real estate groups in Vietnam, and her family is regarded as one of the wealthiest families in Vietnam.