A Vietnamese Real Estate Tycoon Was Sentenced To Death.

A Vietnamese real estate tycoon was sentenced to death on Thursday by a Ho Chi Minh City court over her role in a multibillion-dollar financial fraud case.Truong My Lan, the chairwoman of real estate developer Van Thinh Phat Group, was arrested in 2022.The fraud trial, which began on March 5, was Vietnam's largest ever, and among Southeast Asia's most significant corruption scandals. Lan was found guilty of embezzlement, bribery, and violating banking rules.The case goes back to her involvement in the 2011 merger between Saigon Commercial Joint Stock Bank and two other banks.Lan was accused of illegally controlling Saigon Commercial Bank and using shell companies to secure more than 2,500 loans for herself and her accomplices, according to local media outlet VnExpress.Although Lan didn't directly hold executive power at the bank, she had significant control, owning 91.5% of the bank's shares through third parties and shell companies.