style

Tycoon Truong My Lan's death sentence is a turning point for Vietnam

Font size+Author:World Watchers news portalSource:travel2024-05-08 11:56:49I want to comment(0)

HANOI, Vietnam (AP) — The unusually harsh death sentence given to a real estate tycoon in Vietnam wa

HANOI, Vietnam (AP) — The unusually harsh death sentence given to a real estate tycoon in Vietnam was a pivotal moment in the decadelong “Blazing Furnace” anti-corruption campaign as the Vietnamese business community wrestled with an uncertain future Friday.

Real estate tycoon Truong My Lan, who was sentenced to death Thursday by a court in Ho Chi Minh city for orchestrating the country’s largest ever financial fraud case, was one of Vietnam’s most important businesspeople for years. She has been convicted for fraud amounting to $12.5 billion — nearly 3% of the country’s 2022 GDP — and for illegally controlling a major bank and allowing loans that resulted in losses of $27 billion, state media outlets reported.

Vietnam typically gives death penalties crimes like terrorism or murder and, according to Amnesty International, has among the highest rates of capital punishment worldwide. But a death sentence for a financial crime is rare in the country.

Related articles
  • Judge delays murder trial for Indiana man charged in 2017 slayings of 2 teenage girls

    Judge delays murder trial for Indiana man charged in 2017 slayings of 2 teenage girls

    2024-05-08 10:36

  • China's top legislature to review draft amendment to Criminal Law targeting bribers

    China's top legislature to review draft amendment to Criminal Law targeting bribers

    2024-05-08 10:05

  • Juventus poor run continues in 0

    Juventus poor run continues in 0

    2024-05-08 09:50

  • Hetmyer seals IPL thriller for Rajasthan Royals over Punjab Kings

    Hetmyer seals IPL thriller for Rajasthan Royals over Punjab Kings

    2024-05-08 09:39

Netizen comments