Vietnamese Tycoon Truong My Lan Sentenced to Life in Prison for Fraud and Money Laundering

The real estate mogul's conviction is part of Vietnam's intensified anti-corruption drive targeting high-profile figures.

Truong My Lan, a prominent Vietnamese real estate tycoon, was sentenced to life imprisonment for fraudulently obtaining property and money laundering.
Lan was previously sentenced to death in April for a separate fraud case involving $12.5 billion, which she is currently appealing.
The recent trial revealed Lan's involvement in illegal cross-border money transfers and laundering funds through her control of Saigon Commercial Bank.
Her fraudulent activities affected tens of thousands of investors, causing significant financial losses and public outcry in Vietnam.
Lan's conviction is a significant part of Vietnam's ongoing anti-corruption campaign, which has led to the disciplining of numerous high-ranking officials.