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 problem instances in history, Truong My Lan, head of the main creator Van Thinh Tubby, was found guilty in April of swindling money from Saigon Commercial Bank (SCB) over the course of more than a decade.
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 report said.
According to the report, Lan and her collaborators allegedly stole around US$ 18 billion from SCB between earlier 2018 and October 2022 by issuing bonds and stealing their assets.
To get the cash, Lan, 67, ordered an accomplice to withdraw cash and move it out of SCB’s method.
She finally concealed the cash’s sources and used it to settle business debts or exported the funds abroad for fictitious contracts, according to the document.