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Old 10-23-2024   #1
june04
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Default Property tycoon Truong My Lan’s death sentence appeal to be reviewed next month
Truong My Lan, the former chairwoman of property developer Van Thinh Phat, will have her death sentence appeal heard by the People’s High Court of Ho Chi Minh City in a 20-day trial starting on November 4. Lan, who was sentenced to death in April for embezzling VND677 trillion (US$27 billion) from Saigon Commercial Bank (SCB) over a decade, is seeking a reduced sentence along with 46 other defendants involved in crimes related to SCB and Van Thinh Phat.

Lan's crimes include bribery and violating banking regulations, as well as orchestrating a long-term scheme to use SCB as a "cash cow" for her illegal activities. To conceal her actions, she reportedly bribed State Bank of Vietnam auditors, including head banking inspector Do Thi Nhan, who received $5.2 million and was sentenced to life in prison.

Lan's husband, Eric Chu, was sentenced to nine years for assisting in the fraud, while her niece, Truong Hue Van, received 17 years. In a separate trial, Lan was also handed a life sentence for fraudulent asset appropriation through bond issuance, money laundering, and illegal cross-border money transfers.

The upcoming trial will involve 100 lawyers representing the defendants, with five specifically assigned to Lan.
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