Vietnamese Tycoon Faces Race Against Time: Can She Buy Her Way Out of a Death Sentence?
Truong My Lan, a prominent Vietnamese property developer, is facing a death sentence, and her legal team is scrambling to raise billions of dollars in an effort to secure her freedom.
Lan was convicted in April for embezzling billions from Saigon Commercial Bank. Prosecutors have argued that she must return a significant portion of the estimated $16.4 billion she stole before they will consider a reduced sentence. Her legal team is exploring a variety of funding options, including loans and investments, in a desperate bid to reach the monumental sum required to avoid execution by lethal injection. The court, in accordance with Vietnamese law, could potentially reduce the sentence if Lan can repay three-quarters of the stolen funds.
A Staggering Conviction
Lan, 68, stands accused of orchestrating a multi-billion dollar scheme that plunged Saigon Commercial Bank into chaos.
The severity of her conviction has shocked the world, highlighting the Vietnamese government’s ironclad commitment to eradicating corruption.
The government is using Lan’s case as a powerful warning to other high-ranking individuals engaging in financial crimes.
A Fight Against Time
Lan’s appeal hearing, initially set to conclude on November 25th, has been extended as her legal team scrambles to assemble the necessary funds to persuade the court to spare her life.
“We are trying our best to help her to avoid the death penalty
< ditetapkan. "There are a few potential investors who have agreed and I think we can raise the money),” said Giang Hong Thanh, Lan's counters "We are now focusing on trying to negotiate with overseas investors for loans. It's a race against time," Lan's future hangs precariously in the balance, hinging on whether she can assemble a vast sum before the judges finally announce their decision, expected on Tuesday.
Earlier this month, Lan appeared in court visibly shocked and struggling to maintain her composure as prosecutors reiterated their request for the death penalty. The court offered Lan the opportunity to defend herself while seated, which she declined.
The High Stakes Corruption Crackdown
Lan is just one victim of a government crackdown dubbed the “blazing furnace” campaign, which is targeting corrupt officials and business executives. The campaign, initiated by the late Nguyen Phu Trong, originally focused on brigades and has been escalated by his successor, To Lam, who has vowed to continue the crackdown “resolutely.”
The crackdown has reached the highest levels of power. In a recent case, Vuong Dinh Hue, the former parliament chairman, received an official warning for violating anti-corruption regulations. This marked the first time a person holding one of Vietnam’s top four political positions was publicly disciplined.
Lan’s case, along with others under the “blazing furnace” campaign, reveals a government intent on exacting justice and punishing corruption regardless of one’s status or influence.
What is the Vietnamese government’s message by pursuing this high-profile corruption case?
# Vietnamese Tycoon Faces Race Against Time: Can She Buy Her Way Out of a Death Sentence?
**Host:** Joining us today is legal expert Dr. Nguyen Thi Anh, specializing in Vietnamese law. Dr. Anh, Truong My Lan, a prominent Vietnamese property developer, has been sentenced to death for embezzlement. What makes this case so unique?
**Dr. Anh:** This case is truly unprecedented. While Vietnam does have the death penalty, it’s rarely handed down in white-collar crime cases. The sheer scale of the alleged embezzlement, estimated at $16.4 billion [[1](https://www.aljazeera.com/news/2024/4/11/vietnam-tycoon-truong-my-lan-sentenced-to-death-in-12-5bn-fraud-case)], is staggering.
**Host:** Reports suggest that Lan’s legal team is trying to raise billions to potentially avoid execution. Is that a viable strategy under Vietnamese law?
**Dr. Anh:** Vietnamese law does allow for a sentence reduction if the convicted party repays a significant portion of the stolen funds. In Lan’s case, it’s believed that repaying three-quarters of the $16.4 billion could lead to a reduced sentence. However, achieving this is a gargantuan task.
**Host:** This adds a unique twist to the case, doesn’t it? It’s almost like a race against time for Lan’s legal team.
**Dr. Anh:** Absolutely. Her appeal hearing, initially set for November 25th, has been extended, highlighting the complexity of the situation. Securing such immense funding, likely through loans, investments, or asset sales, within a very short timeframe is a monumental challenge.
**Host:** Beside the legal intricacies, what message do you think the Vietnamese government is sending with this case?
**Dr. Anh:** This case sends a powerful message that the Vietnamese government is serious about tackling corruption, even at the highest levels. It serves as a strong deterrent to other individuals who might be tempted to engage in similar financial crimes.
**Host:** Dr. Nguyen Thi Anh, thank you for offering your expertise on this complex and fascinating case.
**Dr. Anh:** You’re welcome.