Three hand-picked jurors and two judges rejected Truong My Lan's defence arguments.
Truong My Lan was found guilty of swindling cash from Saigon Commercial Bank over a decade. The total damages in the scandal now amount to US$27 billion .A panel of three handpicked jurors and two judges rejected all defence arguments by Truong My Lan, 67, chairwoman of major developer Van Thinh Phat, who was found guilty of swindling cash from Saigon Commercial Bank over a decade.
Four were given life imprisonment, while the others received jail terms ranging between 20 years and three years suspended.Lan embezzled US$12.5 billion, but prosecutors said on April 11 that the total damages caused by the scam now amounted to US$27 billion – a figure equivalent to 6 per cent of the country’s 2023 gross domestic product.The death sentence is an unusually severe punishment in such a case, although the country is a leading executioner globally, according to Amnesty International.
Police have identified around 42,000 victims of the scandal, which has shocked the South-east Asian country. Police say the scam’s victims are all SCB bondholders who cannot withdraw their money and have not received interest or principal payments since Lan’s arrest.The authorities have also said that the US$5.2 million allegedly given by Lan and some SCB bankers to state officials to conceal the bank’s violations and poor financial situation was the largest-ever bribe recorded in Vietnam.
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