A court in Vietnam has upheld a death sentence for real estate tycoon Truong My Lan after rejecting her appeal against a conviction for embezzlement and bribery in a high-profile $12 billion fraud case. Lan, the chairwoman of real estate developer Van Thinh Phat Holdings Group, was sentenced to death in April for her role in Vietnam’s biggest financial fraud case on record.
The High People’s Court in southern Ho Chi Minh City determined there was no basis to reduce Lan’s death sentence. If Lan is able to return three-quarters of the money embezzled while on death row, it is possible the sentence could be commuted to life imprisonment.
