Billionaire’s wife executed in Vietnam for money fraud case

Last Updated on April 12, 2024 11:56 pm

Vietnamese billionaire Truong My Lan has been sentenced to death by the court in the case of fraud of 44 billion dollars.

A Ho Chi Minh City colonial-era court sentenced the woman to death on Thursday.

It is said that this is the most surprising verdict in the history of Vietnam. At the same time, the world’s biggest bank fraud ever.

Ho Chi Minh’s court found evidence that he had stolen money from the country’s biggest banks for 11 years. It is called as white collar crime.

Truong My Lan has been charged with fraudulently borrowing $4,400 million from the country’s Saigon Commercial Bank.

Lawyers say there is no chance of recovery of the $27 billion loan. 2,700 people were called to testify in this case. There were a total of 200 lawyers including 10 for the state in this case.

David Brown, a retired US State Department official who has worked in Vietnam for a long time, said, “I think there has never been a trial like this before under the Communist regime.” Such an incident (crime) has not happened before.

The evidence of this case is preserved in a total of 104 boxes, which weigh 6 tons. A total of 85 people including Truong are on trial in this case. All of whom have denied the charges against them. They can appeal against this verdict.

However, all the accused have been found guilty in the court. Four of them have been sentenced to life imprisonment and others have been given conditional sentences of 3 to 20 years. In addition, Truong My Lan’s husband was sentenced to 9 years and niece to 17 years in prison.