Property tycoon’s appeal against death sentence begins in court

By Hai Duyen November 3, 2024 | 07:02 pm PT

Property tycoon Truong My Lan seen in a court in March 2024. Photo by VnExpress/Quynh Tran

A court began to hear Monday morning property tycoon Truong My Lan’s appeal against her death sentence and VND673-billion (US$26.60 million) fine.

The chairwoman of property developer Van Thinh Phat was sentenced to death in April for embezzling VND677 trillion (US$27 billion) from Saigon Commercial Bank over the course of 10 years.

Her accomplices sentenced in the case will appear at the People’s High Court of Ho Chi Minh City Wednesday to plead for commutation of their sentences.

Lan’s husband Eric Chu and her niece Truong Hue Van have been sentenced to nine and 17 years for abetting her.

Do Thi Nhan, the head banking inspector of the State Bank of Vietnam, was found guilty of taking bribes of $5.2 million from Lan and was given a life sentence.

Nguyen Cao Tri was found guilty of defrauding Lan out of VND1 trillion and was sentenced to eight years in jail. He has turned in the full amount for her to be repaid.

Lan also received a life sentence in a trial that ended last month for "fraudulent appropriation of assets" through bond issuances and illegal cross-border money transfers among others.