Key Points
Tycoon Truong My Lan, whose net worth is nearly 10 percent of the countrys GDP, was found guilty of involvement in a real estate scam that syphoned off $12.5 billion from large private lender Saigon Joint Stock Commercial Bank (SCB) through loans to shell companies..
A total of 42,000 people were identified as victims of Lans crimes, and her arrest in October 2022 sparked anti-bank protests in Hanoi and Ho Chi Minh City, a rare occurrence in Vietnam...
Eighty-five others, including Lans husband, niece and several SCB executives, were also sentenced at the court in Ho Chi Minh City on Thursday...
A sentence as severe as the crime . Apart from death and the 40 years in jail, Lan has also been ordered to pay $27 billion in damages to the Saigon Joint Stock Commercial Bank...
Lans husband, Eric Chu Nap-kee, a Hong Kong national, has been sentenced to nine years for violating banking regulations at the behest of Lan..
