Press "PandaGuides" above to follow us!
Vietnamese property tycoon Truong My Lan, 68, has been ordered to repay an estimated $11 billion to avoid execution by lethal injection, according to prosecutors. Lan is appealing her death sentence, handed down in April after she was convicted of embezzling $12.3 billion from Saigon Commercial Bank. She was also found guilty of bribing officials and breaching banking regulations.
Prosecutors in Ho Chi Minh City have taken a hard stance against leniency, insisting that Lan must return a substantial portion of the 415.7 trillion dong ($16.4 billion) she was accused of embezzling in two separate trials. Under Vietnamese law, if Lan repays three-quarters of the embezzled amount, the court may consider reducing her sentence.
Lan’s lawyer, Giang Hong Thanh, revealed that a group of overseas investors has offered to lend Lan $400 million, with documentation for the transfer currently underway. “We are working to help her avoid the death penalty,” Thanh said, adding that more investments or loans are being sought to cover her debts. Thanh expressed confidence that Lan could meet the repayment requirement.
Lan’s trials have drawn global attention due to the harshness of her sentence, which highlights Vietnam's ongoing anti-corruption campaign.
During her appeal hearing, Lan appeared visibly shaken when prosecutors recommended maintaining her death sentence. She expressed emotional distress, prompting the panel of judges to allow her to sit during her defense, which she declined to do.
In October, Lan received a life sentence in a separate trial for illegally transporting $4.5 billion across borders, laundering $17.5 billion, and misappropriating $1.2 billion through bond schemes.
Lan, the former chairwoman of Van Thinh Phat Group, is one of the highest-profile figures targeted in Vietnam’s anti-corruption efforts.
The appeal hearing, originally scheduled to conclude on November 25, has been extended to allow time for Lan to recover more of the embezzled funds. A final decision is now expected on Tuesday. Thanh remains hopeful, saying, “We hope the court will give her a chance to live so she can settle her debts.”
Forty-seven other defendants are also appealing their sentences during the ongoing hearings, local media reports.
