Viet Nam Death Row Tycoon Faces Verdict in New Trial

A Vietnamese property tycoon sentenced to death for fraud totalling $27 billion arrived in court on Thursday to face a potential life sentence in a related trial on money laundering charges. Property developer Truong My Lan was found guilty in April of swindling cash from the Saigon Commercial Bank (SCB) which prosecutors said she controlled in one of the biggest corruption cases in history, and sentenced to death.

State media reported earlier that Lan and her associates stole around $18 billion by taking assets from SCB between early 2018 and October 2022. Lan effectively owned a 90 percent stake in the bank. She was given the death penalty in April after being found guilty of embezzling $12.5 billion -- a verdict she is appealing, though no date has yet been announced for it.