Description :

Truong My Lan

Truong My Lan, born on October 13, 1956, is a notable Vietnamese businesswoman and the founder of V?n Th?nh Ph?t Group, a prominent real estate development company. However, her success in the business world was overshadowed by her involvement in a massive financial scandal that rocked the region.

In October 2022, Truong My Lan was arrested on charges of orchestrating a complex scheme to embezzle over US$12.5 billion from the Sai Gon Joint Stock Commercial Bank, a financial institution under her control. The scheme involved the submission of fake loan applications and manipulation of financial records through a network of more than two dozen middlemen. The revelation of her fraudulent activities triggered a panic among depositors, leading to a bank run and exacerbating the financial crisis.

Following her arrest, Lan faced a lengthy legal battle. In March 2024, the highly anticipated trial commenced, charging Lan with embezzlement, bribery, and violations of banking regulations. The case garnered widespread attention and condemnation, as it was recognized as one of the largest corruption scandals in the history of Southeast Asia.

On April 11, 2024, the verdict was delivered, sentencing Truong My Lan to death for her role in the scandal. The severity of the sentence underscored the gravity of her offenses and served as a stark warning against corruption in the region's financial sector.

Truong My Lan's downfall serves as a cautionary tale about the perils of unchecked greed and corruption, highlighting the devastating impact such actions can have on individuals, institutions, and society as a whole.