V
ietnamese real-estate tycoon Truong My Lan has seen her appeal against the death sentence rejected by judges. She was found guilty of embezzlement, bribery, and violating banking rules after allegedly embezzling $12.5 billion over a decade as chairwoman of Van Thinh Phat Group. The massive fraud trial, Vietnam's largest ever, involved Lan using shell companies to secure loans for herself and accomplices.

    Lan was given the option to reduce her death sentence by paying three-quarters of the estimated losses, approximately $9 billion. However, judges at the People's High Court of Ho Chi Minh City rejected her appeal, citing no mitigating circumstances. Nguyen Khac Giang, a visiting fellow in the Vietnam Studies Program, suggests Lan may seek another review or a presidential pardon to reduce her sentence.

    Lan's lawyers claim she has assets worth more than the required compensation amount but need time and effort to sell them due to their real estate nature. The death sentence could make it harder for her to negotiate the best prices for these assets. Lan is reportedly trying to raise loans from friends to meet the target, while family members and former executives at Saigon Commercial Bank face prison sentences.