Tycoon Truong My Lan's death sentence is a turning point for Vietnam
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
Election deniers moving closer to GOP mainstream as Trump allies fill Congress, report shows
WASHINGTON (AP) — In the hours after the attack on the U.S. Capitol on Jan. 6, 2021, Ohio’s then-Rep2024-05-22FIRST LOOK: As Laura Ashley relaunches, how does it stack up against its vintage heyday?
Laura Ashley — two words for ever identified with pretty prints and floral fabrics, it’s one of thos2024-05-22Masterful meals: Masterchef 2014 Champion Ping Coombes's nasi goreng with sambal belacan
Roast pheasant, chocolate roulade and this sublime soup... a new book features spectacular dishes fr2024-05-22How Princesses Eugenie and Beatrice could be stepping up amid Royal Family health troubles
The Princess of Wales's video - in which she candidly revealed her cancer diagnosis - sent shockwave2024-05-22Hong Kong: Authorities will monitor internet platforms for non
HONG KONG (AP) — Hong Kong’s leader said Tuesday his administration would keep monitoring for any no2024-05-22How Lady Louise Windsor is tipped for a key role in Prince William's future monarchy
As the British monarchy has faced health crises in past months - with both King Charles and the Prin2024-05-22
atest comment