Vietnamese property tycoon given death sentence in $12B fraud case

A court in Vietnam on Thursday ordered the death penalty for a real estate tycoon found guilty in a financial fraud case totalling more than $12 billion US.Posted: Apr 11, 2024 11:19 AM EDT | Last Updated: 19 minutes ago

Lan started off selling cosmetics in a market stall with her mother in Ho Chi Minh City. When Vietnam liberalized its economy, she moved into property, buying hotels and restaurants. According to government documents, she illegally controlled SCB between 2012 to 2022, and used thousands of shell companies in Vietnam and abroad to arrange loans to herself and her allies.

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