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WEKU
WEKU
The Associated Press

Vietnam sentences real estate tycoon to death in its largest-ever fraud case

Truong My Lan Vietnam Van Thinh Phat VnExpress GDP Ho Chi Minh City SCB
Businesswoman Truong My Lan, front center, attends a trial in Ho Chi Minh City, Vietnam on Thursday, April 11, 2024. (Thanh Tung/AP)

HANOI, Vietnam — Real estate tycoon Truong My Lan was sentenced Thursday to death by a court in Ho Chi Minh City in southern Vietnam in the country's largest financial fraud case ever, state media Vietnam Net said.

The 67-year-old chairwoman of the real estate company Van Thinh Phat was formally charged with fraud amounting to $12.5 billion — nearly 3% of the country's 2022 GDP.

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