Saturday, April 27, 2024
HANOI, Vietnam (AP) " A Vietnamese real estate tycoon was sentenced to death Thursday in the country's biggest ever financial fraud case, a shocking development in an intensifying anti-corruption drive in the southeast Asian nation. Truong My Lan, a high-profile businesswoman who chaired a sprawling company that developed luxury apartments, hotels, offices and shopping malls, was arrested in 2022. The 67-year-old has been convicted for fraud amounting to $12.5 billion " nearly 3% of the country's 2022 GDP " and for illegally controlling a major bank and allowing loans that resulted in losses of $27 billion, state media outlets reported. Death sentences are not uncommon in Vietnam, but it is rare in financial crime cases and for someone this well known. |
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