A Vietnamese property tycoon who was sentenced to death in a US$ 27 billion fraud case will face a second trial this month, according to state media on Friday ( Sep 6 ).
In one of the biggest bribery cases ever, Truong My Lan, the head of the main creator Van Thinh Tubby, was found guilty in April of swindling money from Saigon Commercial Bank (SCB) for more than ten years.
According to the state’s constitutional paper, Lan and 33 accomplices will then stand trial for one-month charges of fraud, “money fraud, and improper cross-border prostitution of cash” starting on September 19 in Ho Chi Minh City.
Around 36, 000 people were affected by the situation, the statement said.
It claimed that Lan and her accomplices, who had taken goods from SCB and had issued bonds between first 2018 and October 2022, expropriated around US$ 18 billion.
To get the cash, Lan, 67, ordered an accomplice to withdraw cash and move it out of SCB’s program.
According to the report, she finally concealed the cash’s sources and used it to settle debts between businesses or diverted it abroad for fictitious contracts.