Vietnam Tycoon Loses Death Penalty Appeal Over Fraud Scandal
- Truong My Lan has pledged to pay back billions of debt owed
- Tycoon was sentenced to death for embezzling $12.3 billion
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Vietnamese tycoon Truong My Lan has lost her appeal against the death sentence handed down for masterminding the country’s largest ever fraud scandal but can avoid execution if she pays back enough of the embezzled cash.
The judge said that the total loss from the case is “huge with extremely serious consequences” and there is “no basis to reduce the penalty,” during the hearing at the High People’s Court in Ho Chi Minh City.