HANOI — A Vietnamese property tycoon who was sentenced to death for fraud totaling $27 billion will no longer face execution, her lawyer said on Wednesday, as the Southeast Asian country abolished capital punishment for a number of crimes, including property embezzlement.
Property developer Truong My Lan’s lawyer Giang Hong Thanh told Agence France-Presse that her death penalty “will be converted to life imprisonment.”“I informed Ms. Lan this morning, she is very happy,” he said.This came as state media reported that Vietnam abolished the death penalty for eight crimes, including espionage, graft and attempting to overthrow the government.
Lan owned just 5 percent of shares in SCB on paper, but courts concluded that she effectively controlled more than 90 percent through family, friends and staff.Tens of thousands of people who had invested their savings in the bank lost money, prompting rare protests in the communist nation.In a separate $17 billion money-laundering case, Lan had a life imprisonment sentence cut to 30 years on appeal in April.
In Jail For Vietnamese Tycoon In $27-B Fraud Case
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