Vietnam property tycoon sentenced to death in multi-billion dollar fraud case

A top Vietnamese property tycoon was sentenced to death on April 11 in one of the biggest corruption cases in history, with an estimated $27 billion in damages.

A panel of three hand-picked jurors and two judges rejected all defence arguments by Truong My Lan, chair of major developer Van Thinh Phat, who was found guilty of swindling cash from Saigon Commercial Bank (SCB) over a decade.

“The defendant’s actions... eroded people’s trust in the leadership of the (Communist) Party and state,” read the verdict at the trial in southern business hub Ho Chi Minh City.