Vietnamese Tycoon Faces Execution Unless $11 Billion is Repaid
Truong My Lan, a 68-year-old Vietnamese property tycoon, has been told by prosecutors that she must repay an estimated $11 billion to avoid execution by lethal injection. Lan is currently appealing her death sentence, which was handed down in April after she was convicted of embezzling $12.3 billion from Saigon Commercial Bank.
According to her lawyer, Giang Hong Thanh, Lan’s legal team is working to help her avoid the death penalty. “We are now trying to help her to avoid the death penalty,” Thanh said. “There is a group of overseas investors who have agreed to lend Lan $400 million and they are working on the documents required to send the money in”.
Thanh believes that Lan can meet the payback requirement to avoid the death penalty. Under Vietnamese court law, if Lan can return three-quarters of the embezzled assets, the jury can consider a reduction in her sentence.
Lan’s case has grabbed global attention due to the severity of the sentence. The Communist government is using her case to showcase its commitment to fighting high-level corruption. In fact, Lan is one of the highest-profile targets of the government’s years-long anti-corruption crackdown, known as the “blazing furnace” campaign.
The appeal hearing was initially expected to end on November 25, but the drive for Lan to return as much cash as possible extended the process. The court has now adjourned to consider its decision, which is expected on Tuesday, according to Lan’s legal team.