Vietnamese real estate tycoon convicted of billions in fraud
A VIETNAMESE real estate tycoon was convicted today of fraudulently obtaining property worth billions of dollars in a case that has been a centrepiece of the government’s crackdown on corruption.
Truong My Lan was already convicted in April by the same Ho Chi Minh City court of fraud amounting to $12.5 billion (£10 billion) — nearly 3 per cent of the country’s gross domestic product — in a separate case and sentenced to death by lethal injection.
The trials were broken into two parts due to the number of allegations against her, and Thursday’s verdict, which carries a maximum penalty of life in prison, adds to Ms Lan’s legal troubles as she awaits the appeal against her death sentence to be heard.
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