Truong My Lan, a Vietnamese property tycoon sentenced to death for orchestrating a massive fraud scheme totaling $27 billion, has had her sentence converted to life imprisonment following Vietnam's decision to abolish the death penalty for eight crimes, including property embezzlement. Her lawyer announced she is relieved and actively working to compensate for the losses incurred. The court ruled that if she returns three-quarters of the stolen assets, her sentence may further be reconsidered. This change in law comes amidst substantial social unrest from investors affected by the banking scandal.
Vietnam has abolished the death penalty for eight crimes, including property embezzlement, giving property tycoon Truong My Lan a reprieve from her sentence.
Lawyer Giang Hong Thanh confirmed that Lan’s death penalty would be converted to life imprisonment, stating, 'I informed Ms. Lan this morning, she is very happy.'
Lan was convicted of a fraud scheme amounting to $27 billion, equivalent to six percent of Vietnam's GDP, which had led to significant public unrest.
If Truong My Lan compensates for three quarters of the losses, she may be considered for a further reduction of her sentence, according to legal sources.
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