Vietnam Abolishes Death Penalty for Fraud, Spares $27B Tycoon

Vietnam has recently abolished the death penalty for eight crimes, including property embezzlement and fraud, impacting high-profile cases such as that of real estate tycoon Truong My Lan. Lan, convicted for a $27 billion fraud, previously sentenced to death, will now have her sentence commuted to life imprisonment, with potential for further reduction if she compensates a significant portion of the losses. Meanwhile, another prominent property tycoon, Trinh Van Quyet, saw his 21-year prison sentence cut to seven years in a stock market manipulation and fraud case involving over $146 million, following compensation payments and widespread petitions for leniency. Quyet's sisters and other associates also received reduced sentences. These legal reforms and judicial decisions reflect Vietnam's ongoing crackdown on corruption among its business elite while simultaneously reforming its criminal justice system to limit capital punishment.