Vietnamese woman tycoon sentenced to death faces new charges

Truong My Lan is accused of money laundering and currency trafficking.
By RFA Staff
Vietnamese woman tycoon sentenced to death faces new charges Business woman Truong My Lan, front center, attends a trial in Ho Chi Minh City, Vietnam on Thursday, April 11, 2024.
Thanh Tung/VnExpress via AP

Property tycoon Truong My Lan, already facing the death penalty for masterminding Vietnam’s biggest fraud, faces additional charges, state media reported on Thursday.

Lan, chairwoman of  Vietnamese developer Van Thinh Phat, was sentenced to death in April for causing losses equivalent to US$27 billion at Saigon Commercial Bank in which she owned a 91.5% stake.

Now, along with 33 others, she has been accused of fraudulent appropriation of assets, money laundering and illegal cross-border currency trafficking.

Investigators concluded that Lan had been moving illegal funds abroad and investing in Vietnam’s property market.

Police also said Lan and her accomplices issued VND30 trillion (US$1.2 billion) of bonds and pocketed the cash.

She has lodged an appeal against her death sentence.

Edited by Taejun Kang.


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