Vietnam Billionaire Sentenced To Death Over Multi-Billion Dollar Fraud

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

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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.

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After a five-week trial in business hub Ho Chi Minh City, 85 others also face verdicts and sentencing on charges ranging from bribery and abuse of power to appropriation and violations of banking law.

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She and the others were arrested as part of a national corruption crackdown that has swept up numerous officials and members of Vietnam's business elite in recent years.

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She and the others were arrested as part of a national corruption crackdown that has swept up numerous officials and members of Vietnam's business elite in recent years.

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