Vietnamese billionaire sentenced to death in $12.5bn fraud case
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A Vietnam court sentenced real estate tycoon—Truong My Lan (67)—to death over her role in a 304 trillion dong ($12.46 billion) fraud case, the country's biggest on record. Lan—the chairwoman of Van Thinh Phat Holdings Group—was found guilty of embezzlement, bribery, and violations of banking rules. Lan and her accomplices were accused of siphoning off over 304 trillion dong from Saigon Joint Stock Commercial Bank—which she effectively controlled through proxies. This is equivalent to 3% of Vietnam's GDP.