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International Business Times

Business

AFP News

Vietnam Property Developer Faces Trial Over $12.5 Bn Bond Fraud

Vietnam Truong My Lan

Truong My Lan will be tried at the Ho Chi Minh City People's Court, accused with dozens of accomplices of embezzling $125 billion from a bank (Credit: AFP)

The chairwoman of major property developer Van Thinh Phat will go on trial in Vietnam, accused with accomplices of embezzling $12.5 billion from a bank "for personal purposes", the official government website said.

Truong My Lan will be tried at the Ho Chi Minh City People's Court, the website reported Sunday, without specifying when the trial would start.

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