Truong My Lan, 68, was convicted earlier this year of swindling money from Saigon Commercial Bank (SCB).
: A Vietnamese court upheld the death penalty Tuesday for a property tycoon in a multi-billion dollar fraud case -- but said her life could still be spared if she paid back three quarters of the assets she embezzled.
She appealed the verdict in a month-long trial, but on Tuesday the court in Ho Chi Minh City determined that there was “no basis” to reduce the death sentence for Lan.The court said Tuesday that if she returns three quarters of the stolen assets, her sentence could be reduced to life imprisonment. Lan, who founded real estate development group Van Thinh Phat, earlier told the court in Ho Chi Minh City “the quickest way” to repay the stolen funds would be “to liquidate SCB, and sell our assets to repay SBV and the people”.
The State Bank said in April that it pumped funds into SCB to stabilise it, without revealing how much.
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