Jakarta, CNN Indonesia —
Original tycoon Vietnam Truong My Lan sentenced to death for being involved in a fraud case worth US$12.5 billion or Rp. 200.06 trillion (dollar exchange rate Rp. 16,005 per US dollar).
In what is said to be the largest case in history, Lan was found guilty of embezzlement, bribery and violating banking regulations.
The 67-year-old woman illegally controlled Saigon Joint Stock Commercial Bank from 2012 to 2022 to siphon funds through thousands of ghost companies and bribe government officials.
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So who is Truong My Lan?
Launch South China Morning Post, Truong My Lan was born in 1956 in a humble family. He only completed his education at high school level.
Lan then sold cosmetics with her mother at Ben Thanh Market, Ho Chi Minh City, Vietnam. Her mother continued to accumulate assets to support Lan financially.
Lan then met her husband, Eric Chu Nap-kee, in 1992. Eric was an investor from Hong Kong who came to Vietnam when the communist government opened its economy to foreign investment.
In the same year, Lan founded the Van Thinh Phat (VTP) company. Over the years, VTP grew to become one of the richest real estate companies in Vietnam.
Launch APVTP is connected to some of the most valuable properties in central Ho Chi Minh City, including Times Square Saigon 39, Windsor Plaza Hotel, 37-story Capital Place, and the five-star hotel Sherwood Residence where Lan lived until his arrest.
[Gambas:Video CNN]
(fby/sfr)