Vietnam Upholds Death Sentence in Fraud Case

Vietnamese real estate tycoon Truong My Lan, chairwoman of Van Thinh Phat Holdings, has had her death sentence upheld after her appeal was rejected in a high-profile $12 billion fraud case. She was convicted of embezzling funds from the Saigon Commercial Bank, which she controlled through proxies, leading to significant financial losses and public protests. The court ruled that there was no basis to reduce her sentence, but her life could be spared if she returns three-quarters of the embezzled assets. Lan has claimed to have begun this process by turning over properties, although their value is disputed. This case is part of Vietnam's extensive anti-corruption campaign, known as 'Blazing Furnace,' and has had significant economic and social repercussions. Lan retains the option to seek a presidential pardon or further legal reviews.