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Vietnamese court has upheld the death sentence for real estate tycoon Truong My Lan in a high-profile corruption case. The 68-year-old was found guilty of embezzlement, bribery, and violating banking regulations, resulting in losses of over $12 billion to Saigon Commercial Bank between 2012 and 2022.

    Prosecutors argued that Lan's actions had severe consequences for society, the financial market, and the economy. They also stated that the amount of money embezzled was unprecedentedly large and unrecoverable. However, Lan's lawyers claimed she had mitigating circumstances, including admitting guilt, showing remorse, and paying back part of the stolen funds.

    Lan may still be eligible for clemency if she returns at least 75% of the misappropriated assets, totaling over $11 billion. Her lawyers say she has already returned more than VND 323 trillion, exceeding the required amount. The court rejected this argument, citing difficulties in assessing the value of seized properties.

    Lan's lawyer plans to appeal for clemency from the president within seven days and will ask the court for extra time to recover assets. Truong My Lan hopes that the court can create favorable conditions for her to continue making compensation.

    The case is part of Vietnam's anti-corruption campaign, which has targeted high-ranking officials and business leaders. The outcome may set a precedent for handling financial crimes in Vietnam and indicate how new CPV General Secretary To Lam intends to pursue the fight against corruption.