HANOI — Vietnamese property tycoon Truong My Lan, initially sentenced to death for a record US$27 billion fraud, will now serve life in prison after Vietnam scrapped the death penalty for property crimes, her lawyer confirmed.
Lan, 68, was found guilty of embezzling funds from Saigon Commercial Bank, which she secretly controlled. The change comes as Vietnam abolishes capital punishment for eight crimes, including embezzlement and bribery.
Lan may see a further sentence reduction if she returns most of the stolen assets. The case triggered rare public protests as many lost their savings in the scandal.
