Vietnamese Female Billionaire Truong My Lan Changes Stance: Willing to Use Assets to Repay Fraudulent Debts

Reported 7 months ago

Truong My Lan, the founder of Van Thinh Phat Group, was sentenced to death by the Ho Chi Minh City People's Court for committing the largest financial fraud in Vietnam's history against Saigon Joint Stock Commercial Bank, totaling $44 billion, in April. Following her death sentence, she has admitted to her wrongdoing and expressed readiness to use assets worth over a trillion to repay debts. Police have seized billions in assets, frozen bank accounts, and confiscated properties in Hanoi and Ho Chi Minh City. She is also facing charges related to bribery and violating banking rules.

Source: YAHOO

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