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.
Exodus at GB News continues: Pip Tomson becomes third star to quit in just three months
Labour MP Ginny Andersen formally apologises after bullying accusation
WorkSafe interim chief executive Steve Haszard resigns months into job
Nvidia to buy Israeli AI company for estimated $700M
Schools not equipped to be community hubs in disaster responses
Public Private Partnerships for flood protection would only add to costs
Iwi Chairs Forum reps pull out of anti
Foreign diplomats impressed by traditional culture, high
Firearms Minister accused of misleading public on gun stats
FDA brings lab tests under federal oversight in bid to improve accuracy and safety
Local board opposes boundary change for Ōtara community