Huge Vietnam Fraud Case Raises Questions Over Banking System

Vietnamese property tycoon Truong My Lan (2-L) is at the centre of a massive fraud case that has raised questions about the country's banking system (Credit: AFP)

A multi-billion-dollar fraud scandal involving one of Vietnam's most prominent tycoons exposed systemic weaknesses in the country's banking sector, say analysts who warn other such cases could yet emerge.

Judges on Tuesday upheld the death sentence of property developer Truong My Lan, who was convicted this year of embezzling vast sums from the Saigon Commercial Bank (SCB), which she controlled, having borrowed from tens of thousands of small investors.