What to know about the real estate tycoon sentenced to death in Vietnam’s largest fraud case

Published April 11, 2024 6:49 AM

By ANIRUDDHA GHOSAL
Associated Press

HANOI, Vietnam (AP) — A Vietnamese real estate tycoon has been sentenced to death in the country’s biggest ever financial fraud case. It’s a shocking development in an intensifying anti-corruption drive in the southeast Asian nation. Truong My Lan is a high-profile businesswoman who chaired a sprawling company that developed luxury apartments, hotels, offices and shopping malls. She was arrested in 2022 and charged with fraud amounting to $12.5 billion. That’s nearly 3% of the country’s 2022 GDP. Death sentences are not uncommon in Vietnam, but it is rare in financial crime cases and for someone this well known.

Article Topic Follows: AP National

Jump to comments ↓

Associated Press

BE PART OF THE CONVERSATION

KIFI Local News 8 is committed to providing a forum for civil and constructive conversation.

Please keep your comments respectful and relevant. You can review our Community Guidelines by clicking here

If you would like to share a story idea, please submit it here.