HO CHI MINH CITY: The appeal of a Vietnamese property tycoon convicted of money laundering began on Tuesday, three months after she lost a challenge against the death penalty in a separate case.
Property developer Truong My Lan was found guilty in April 2024 of stealing money from Saigon Commercial Bank (SCB) and sentenced to death for fraud amounting to $27 billion.
Lan appealed against that verdict and the court said there was no basis to reduce her sentence, but ruled that she could still escape the death penalty if she returned three quarters of the stolen assets.
Now she is appealing against the verdict from a second trial in October, in which she was sentenced to life in prison for three crimes.
On Tuesday Lan, now accustomed to high-profile hearings, chatted with police officers and looked relatively relaxed as she waited for the court to start in Ho Chi Minh City.
Her niece, who was handed a five-year prison term in October for fraudulent appropriation of property, sat behind her, flanked by officers.
It is the first time Lan is in the dock without her husband, Chu Nap Kee, who is not challenging a two-year sentence he was handed for money laundering in October.
The appeal will last until April 21 and Lan will be defended by eight lawyers, according to state media.
The 68-year-old was found guilty of laundering $17.7 billion and illegal cross-border trafficking of $4.5 billion.
She was also found guilty of bond fraud to the tune of $1.2 billion.
The court determined that Lan was “the mastermind, committed the crime with sophisticated methods, many times, causing especially serious consequences.”
Thirty-three other defendants were also sentenced at the court in Ho Chi Minh City and given terms ranging from two to 23 years in prison.
Twenty-seven of them are appealing against their sentences, state media said.
During her first trial in April, Lan was found guilty of embezzling $12.5 billion but prosecutors said the total damages caused by the scam totaled $27 billion – equivalent to around six percent of the country’s 2023 GDP.
Lan owned just five percent of shares in SCB on paper but at her trial the court concluded that she effectively controlled more than 90 percent through family, friends and staff.
Tens of thousands of people who had invested their savings in the bank lost money, shocking the communist nation and prompting rare protests from the victims.
Vietnam death row tycoon begins appeal in $17.7 billion money-laundering case
https://arab.news/nzryc
Vietnam death row tycoon begins appeal in $17.7 billion money-laundering case
- Property developer Truong My Lan was found guilty in April 2024 of stealing money from Saigon Commercial Bank
- She was sentenced to death for fraud amounting to $27 billion, but appealed against that verdict
Russian drone attack forces power cuts in Ukraine’s Kryvyi Rih, military says
- Kyiv says the campaign has forced rolling outages and emergency cuts to cities across the country, as repair crews work under fire and Ukraine relies on air defenses and electricity imports to stabilize the grid
KYIV: Russian drones struck infrastructure in the central Ukrainian city of Kryvyi Rih on Wednesday, forcing emergency power blackouts for more than 45,000 customers and disrupting heat supplies, military administration head Oleksandr Vilkul said.
“Please fill up on water and charge your devices, if you have the chance. It’s going to be difficult,” Vilkul said on the Telegram messaging app.
Water utility pumping stations switched to generators and water remained in the system, but there could be pressure problems.
The full scale of the attack was not immediately known. There was no comment from Russia about the strike.
Russia has repeatedly struck Ukraine’s power plants, substations and transmission lines with missiles and drones, seeking to knock out electricity and heating and hinder industry during the nearly four-year war.
Kyiv says the campaign has forced rolling outages and emergency cuts to cities across the country, as repair crews work under fire and Ukraine relies on air defenses and electricity imports to stabilize the grid.
Kryvyi Rih, a steel-and-mining hub in the Dnipropetrovsk region and President Volodymyr Zelensky’s hometown, has been hit repeatedly, with strikes killing civilians and damaging homes and industry.
The city sits close enough to southern front lines to be within strike range, while its factories, logistics links and workforce make it economically important and a key rear-area center supporting Ukraine’s war effort.
