Vietnamese property tycoon Truong My Lan has lost her appeal against a death sentence for the world’s largest bank fraud.
According to British media, 68-year-old Truong My Lan still has one chance to save her life. If she repays the fraudulent money, her life could be spared. Truong My Lan, a real estate developer, was sentenced in April in connection with a 12 billion dollar fraud case involving Saigon Commercial Bank (SCB).
In her appeal, she asked the court for a more “lenient and humanitarian” approach. However, the court rejected her request for clemency, stating that there was no justification for reducing her sentence. The court did, however, offer her the opportunity to escape the death penalty if she repaid 9 billion dollars, or three-quarters of the embezzled amount.
It is also noted that she has the right to appeal to the country’s president. During the trial, Truong had discussed repaying the embezzled amount. Truong My Lan is a well-known industrialist in Vietnam. She owns a shopping mall, a port, and a luxury residential complex in Ho Chi Minh City. Although she did not directly own shares in SCB, she controlled over 91.5% of the bank’s shares through her family members, friends, and fake companies.
Billionaire Truong My Lan began her career selling cosmetics products on the streets.
