Hanoi, Vietnam Reuters —A court in Vietnam on Tuesday upheld a death sentence for real estate tycoon Truong My Lan after rejecting her appeal against a conviction for embezzlement and bribery in a high-profile $12 billion fraud case, state media reported.
Lan, the chairwoman of real estate developer Van Thinh Phat Holdings Group, was sentenced to death in April for her role in Vietnam’s biggest financial fraud case on record.
The High People’s Court in southern Ho Chi Minh City determined there was no basis to reduce Lan’s death sentence, reported online newspaper VnExpress.
If Lan is able to return three-quarters of the money embezzled while on death row, it is possible the sentence could be commuted to life imprisonment, the report said.
Apart from the death sentence, Lan was handed a life sentence at a separate trial in October after being found guilty of obtaining property by fraud, money laundering and illegal cross-border money transfers.
Persons:
Vietnam Reuters —, Truong My Lan, Lan, Van Thinh, “, Vietnam’s cassation
Organizations:
Vietnam Reuters, Van Thinh Phat Holdings Group, Court, Reuters, Vietnam’s, Stock Commercial Bank, SCB
Locations:
Hanoi, Vietnam, Ho Chi Minh City, Saigon