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HANOI, Vietnam — Real estate tycoon Truong My Lan was sentenced Thursday to death by a court in Ho Chi Minh City in southern Vietnam in the country’s largest financial fraud case ever, state media Vietnam Net said.The 67-year-old chair of the real estate company Van Thinh Phat was formally charged with fraud amounting to $12.5 billion — nearly three percent of the country’s 2022 global domestic product.
Lan illegally controlled Saigon Joint Stock Commercial Bank between 2012 and 2022 and allowed 2,500 loans that resulted in losses of $27 billion to the bank, reported state media VnExpress. The court asked her to compensate the bank $26.9 million.
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