All You Need to Know about Truong My Lan case

Truong My Lan, a prominent Vietnamese businesswoman, received a death sentence for a $12.5 billion fraud.

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She controlled the Saigon Joint Stock Commercial Bank and embezzled funds through ghost companies and bribes.

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The value of her alleged asset appropriation was equivalent to 3% of Vietnam’s GDP in 2022.

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Prosecutors seized over 1,000 properties belonging to her.

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Lan denied charges, blaming subordinates.

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The court attributed the harsh sentence to the seriousness of the case and irrecoverable losses.

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Her actions eroded trust in the leadership of the Party and State.

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The arrest was part of an ongoing anti-corruption drive in Vietnam.

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The so-called Blazing Furnace campaign has impacted high-ranking officials.

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Lan’s trial began in March 2024.

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