Vietnamese tycoon Truong My Lan can avoid execution for orchestrating a $12bn fraud if she repays three-quarters of the misappropriated funds, a court ruled on Tuesday.
The chair of property developer Van Thinh Phat Group was sentenced to death in April after being found guilty of embezzling 304tn dong from Vietnam’s Saigon Joint Stock Commercial Bank (SCB). She was also found guilty of abuse of power and bribing government officials.
A court in Ho Chi Minh City rejected her appeal against the death sentence, citing the “particularly serious consequences” from the corruption case, the country’s largest financial fraud, according to Vietnamese state media.
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