As the assets of disgraced Vietnamese tycoon Truong My Lan continue to be auctioned away, with her Birkin bags next on the block, it seems her luxury cars and high-end handbags won’t come close to covering the staggering $44 billion she reportedly defrauded. As of now, the 69-year-old former business mogul is sitting in prison, serving a life sentence after a legal journey that saw her initially face the death penalty for her central role in one of the largest fraud cases in history.
According to CNN, Lan was accused of orchestrating a scheme that involved using shell companies and accomplices to drain funds from one of Vietnam’s largest banks, Saigon Commercial Bank. She was initially sentenced to death in 2024 for embezzling $12 billion. However, Vietnam removed the death penalty for embezzlement and seven other offenses, commuting the sentence to life imprisonment.
