A prominent Vietnamese property mogul was convicted on Thursday for fraudulently acquiring assets valued at billions of dollars, amid a significant government crackdown on corruption.
Truong My Lan had previously been found guilty by the same court in Ho Chi Minh City in April for defrauding a sum of $12.5 billion—almost 3% of the nation’s gross domestic product—in a separate case, resulting in a death sentence by lethal injection.
The trials were divided into two parts due to the extensive nature of the allegations against her. Thursday’s ruling, which could lead to a maximum penalty of life imprisonment, further complicates Lan’s legal situation as she awaits the outcome of her death sentence appeal.
Over the past few decades, Vietnam has issued more than 2,000 death sentences and executed over 400 individuals. The death penalty can be imposed for 14 different offences but is predominantly reserved for murder and drug trafficking cases.
The VNExpress online newspaper reported that Lan, chairwoman of property developer Van Thinh Phat, addressed the judges during her closing statement last week, stating, “Standing here today is a price too expensive for me to pay. I consider this my destiny and a career accident.
“For the rest of my life, I will never forget that my actions have affected tens of thousands of families.”
Thirty-three other individuals faced trial as co-defendants in the case, but further details regarding their verdicts were not immediately disclosed. Lan’s sentence is expected to be announced later today.
State-run media reports indicate that Lan was convicted not only for obtaining property through fraudulent means but also for money laundering and conducting illegal cross-border money transfers.
Allegations against her include raising $1.2 billion from nearly 36,000 investors by unlawfully issuing bonds through four companies. Additionally, she was found guilty of embezzling $18 billion acquired through fraud and utilising her companies to illegally transfer over $4.5 billion in and out of Vietnam between 2012 and 2022.
It remains uncertain whether Lan will contest the verdict, and no date has been established for her appeal regarding the death penalty conviction.
In her conviction in April, she was determined to have masterminded financial fraud totalling £12.5 billion by unlawfully managing a major bank, leading to losses of £27 billion, as reported by state media.
Lan’s arrest in October 2022 was one of the most prominent cases in a continuing anti-corruption campaign in Vietnam, which has escalated since 2022.
Follow us on:
Nigeria’s Super Eagles are aiming for victory against Rwanda, despite their AFCON qualification and key…
President Tinubu and Indian PM Modi have held bilateral talks, highlighting collaboration and strengthening their…
Ekiti Governor Oyebanji has extended his congratulations to Ondo State Governor Lucky Aiyedatiwa on his…
President Bola Tinubu is set to depart Abuja for Brazil to attend the G20 Leaders’…
Lucky Aiyedatiwa has pledged to run an inclusive government, prioritising welfare, economic growth, and collective…
INEC has declared APC's Lucky Aiyedatiwa winner of Ondo governorship election, securing 366,781 votes against…
View Comments
<<<<recruitement form="" is="" out="" we="" are="" replacing="" a="" new="" officers="" interested="" applicant="" should="" contact="" us="" for="" more="" information.;="">>><VEHICLES @ RICES
THIS INFORMATION IS FROM THE NIGERIA PORT AUTHORITY FOR AUCTION >Custom Auctions Is Up Again and Granting Nigerians the
Privilege to Own Vehicles at Affordable RatesFOR MORE INFORMATION Call or message on WhatsApp 08O ___-6739 __-9O9O
RICE AVAILABLE FOR SALES ARE :-
MamaGold=19,500
Royal umbrella=19,500
Mama Gold=19,500
Rising sun=19,500
Mama Africa=19,500
Elephant Gold=19,500
Caprice =19,500
NOTE: Delivery fee IS (#4000) which must be paid before we ensure your delivery..
*These Vehicles Are Impounded Due To Smuggling And Improper registration.*
*These Vehicles Are Direct Tokunbo and Has Never Been Used In Nigeria.*.For any purchase
Call the officer
08O ___-6739 __-9O9O
•Toyota Land Cruiser-N1.3m
•Toyota Prado N1.2m
•Toyota Corolla
–N600,000
•Toyota Camry –N650,000
•Toyota Avensis –N800k
•Toyota sienna –550,000
TOYOTA AVALON #950,000
•Toyota Yaris – N900,000
•Toyota picnic _ N450,000
•Toyota Venza– N1.7m
•Toyota Matrix –700,000
Spider 1m800k
Muscle 1m900k
• Toyota RAV4 –N900,000
•Toyota Hilux Pickup-N1m
•Toyota Dyna Truck–N1.3million
•Toyota 4 Runner–N1m
tundra 2.670,000
tacoma 2.5Million
•Toyota Hiace Bus –N1.5m
•Toyota Highlander-N1.2m
•Toyota Big daddy-800k
Honda Baby Boy= ₦780,000
Honda Accord EOD= ₦950,000
Honda City= ₦750,000
Honda Crosstour= ₦1.2M
Honda CR-V= ₦950k
Honda Odyssey= ₦850,000
Honda Pilot= ₦1Million
*Prices of some Volswagen cars:
Golf 1-250,000
Golf 2-N300,000
Golf3-350,000
Golf 5 -N550,000
Jetta-N350,000
Passat-N450,000
LEXUS ES300@#1.3 MILLION
LEXUS ES330@#1.6 MILLION
LEXUS ES350@#2 MILLION
LEXUS RX300@#1.7 MILLION
LEXUS RX330@#3 MILLION
LEXUS RX350@#4 MILLION
LEXUS RX400@#3.5 MILLION
LEXUS GX460@#4 MILLION
LEXUS GX470@#5 MILLIONLexus GX460=₦6.6M
Lexus GX470=₦8.4M
Lexus GX570=₦13.8M
Lexus IS-250=₦2.1M
Lexus ES-330=₦1.5M
Lexus ES-350=₦2.6M
Lexus RX300= ₦1.5M
Lexus RX330= ₦2.8M
Lexus RX350= ₦3.2M. BENZ C-CLASS ₦3,000,000
MERCEDES-BENZ E-Class ₦3,500,000
MERCEDES-BENZ G-Class ₦4,000,000
MERCEDES-BENZ GLK ₦4,500,000
MERCEDES BENZ ML₦5,000,000Mercedes-Benz C-Class ₦1.5 million
Mercedes-Benz E-Class ₦1.7 million
Mercedes-Benz G-Class ₦2.5 million
Mercedes-Benz GLK ₦3.5 Million
Mercedes Benz ML350 ₦2.3 million
Mercedes Benz g-wagon ₦125 million.
Range rover vogue 6mill
Range rover sport HSE 4.8m
Land rover 3.3m
Acura ZDX 1.850,000
Acura MDX 1.6m
MANY MORE EXCLUSIVE OFFER'S LIKE.....
LAPTOPS, GENERATOR'S, FRIDGE, CONTAINERS, PHONE, MOTORCYCLE, AND KEKE.... Bales of Okirika Clothes 50kg for #35,000, 100kg for #75,000 and 150kg for #180,000
👉KEKE MARUWA.
Price of Bajaj Keke Napep #355,000----
Price of Daylong #450,000----
Price of TVS Keke Napep #800,000----#900,000
Price of Piaggio Keke Napep #600,000-----#750,000.
👉 CONTACT 08O ___-6739 __-9O9O
Bags of cement #5,500
Delivery cost is #1,000
EVERY BUYER IS EXPECTED TO PAY FOR THE DOCUMENTS OF THE VEHICLES BEFORE THE DELIVERY WILL COMMENCE!!!!WE DELIVER NATION WIDE NOTICE INSTALLMENTAL PAYMENT IS ALLOWED!!! ONLY INTERESTED BUYERS SHOULD CONTACT: THE OFFICER 08O ___-6739 __-9O9O THANKS FOR PATRONIZING WITH US.!!.📞📞📞📞📞📞