Vietnamese property tycoon Truong My Lan, who masterminded world’s biggest bank fraud, has lost her appeal against the death sentence awarded to her.
As per Vietnam law, the 68-year-old property tycoon has to now pay back 75% of the fraud amount to get her sentence commuted to life imprisonment.
Truong My Lan has been convicted of secretly controlling Saigon Commercial Bank in Vietnam, and taking out loans and cash for more than 10 years through a web of shell companies, amounting to a total of $44 Billion.
Rejecting the appeal, on Tuesday, the Court said that the court said there was no basis to reduce Truong My Lan’s death sentence. However, she could still avoid execution if she returns 75% of the amount she embezzled.
