Vietnam's real estate magnatin Truong My Lan sentenced to death: Corruption in focus!

Vietnam's real estate magnatin Truong My Lan sentenced to death: Corruption in focus!

Ho-Chi-Minh-Stadt, Vietnam - In Vietnam, the Supreme Court in Ho Chi Minh-Stadt confirmed the death sentence against the real estate magbatin Truong My Lan. She was known as the central actor in the country's largest financial fraud and had appeared over 11.6 billion euros, almost three percent of the Vietnamese gross domestic product. The court rejected an appeal by the 68-year-old and confirmed that her deeds had great negative effects on society and the economy, as the state media reported. According to the online newspaper "Vnexpress", however, the judgment could be converted into a lifelong prison sentence if LAN succeeds in repaying three quarters of the neglected sum.

Truong My Lan was the chair of the Van Thinh Phat Holdings Group and was found to have been guilty of bracing from the Saigon Joint Joint Stock Commercial Bank (SCB) that she controlled by bribes and the creation of "ghost companies". The fraud began when LAN enriched himself with illegal loans to mailbox companies. Around 42,000 customers of the bank became victims of these machinations. In addition to LAN, numerous other accused are involved in the process, including her husband and high -ranking civil servants of the central bank who are said to have received bribes, reports "Tageschau.de".

campaign against corruption

This process was part of a broad anti-corruption campaign in Vietnam, which is known as "blazing oven". The chairman of the ruling communist party, Nguyen Phu Trong, has promised to combat corruption in the country, although there have been little tangible results so far. Since the arrest of LAN in October 2022, the case has caused a sensation and shows how deep the problem of corruption is rooted in economic and political circles.