PROSEUTORS in Vietnam are calling for the death sentence of a businesswoman who works for a real estate company after she allegedly masterminded the biggest fraud in the nation’s history.
Truong My Lan, the chairwoman of real estate developer Van Thinh Phat Holdings Group, is accused of embezzling funds from one of Vietnam’s biggest banks.
The 68-year-old was also accused of bribing officials to carry out the fraud and effectively controlled the stolen money through “thousands of ghost companies” between 2012 and 2022.
Prosecutors said the property tycoon showed no remorse and even blamed her subordinates during the trial.
Her actions resulted in $20 billion in damages equivalent to nearly 5% of Vietnam’s GDP, according to state media.
