• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

As Big Tech showers employees with perks to win the talent war, Nvidia built a nearly $5 trillion company by making people pay for their own lunch

2

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

3

The Supreme Court's birthright citizenship ruling hands the U.S. economy a $7.7 trillion win

1

As Big Tech showers employees with perks to win the talent war, Nvidia built a nearly $5 trillion company by making people pay for their own lunch

2

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

3

The Supreme Court's birthright citizenship ruling hands the U.S. economy a $7.7 trillion win
Financefraud
Asia

Vietnam tycoon told to repay $11 billion to avoid execution

By
Francesca Stevens
Francesca Stevens
,
Nguyen Dieu Tu Uyen
Nguyen Dieu Tu Uyen
, and
Bloomberg
Bloomberg
Down Arrow Button Icon
By
Francesca Stevens
Francesca Stevens
,
Nguyen Dieu Tu Uyen
Nguyen Dieu Tu Uyen
, and
Bloomberg
Bloomberg
Down Arrow Button Icon
November 27, 2024, 7:40 AM ET
Vietnamese property tycoon Truong My Lan (C) looks on at a court in Ho Chi Minh City on Nov. 4, 2024.
Vietnamese property tycoon Truong My Lan (C) looks on at a court in Ho Chi Minh City on Nov. 4, 2024. AFP via Getty Images
Add Fortune on Google for similar content.

Vietnamese prosecutors have told property tycoon Truong My Lan she must repay an estimated $11 billion if she wants to avoid execution by lethal injection.

Lan, 68, is appealing her death sentence after being convicted in April of embezzling $12.3 billion from Saigon Commercial Bank. She was also found guilty of bribing government officials and violating bank lending rules.

Prosecutors have so far argued against leniency at her hearing in Ho Chi Minh City unless she finds a way to return a significant chunk of the 415.7 trillion dong ($16.4 billion) she was found guilty of embezzling in two separate trials, according to her lawyer.

“We are now trying to help her to avoid the death penalty,” Lan’s lawyer Giang Hong Thanh said. “There is a group of overseas investors who have agreed to lend Lan $400 million and they are working on the documents required to send the money in,” he said. 

That’s one of a number of potential investments or loans her legal team says is in the works to help Lan clear some of her debts. Thanh said he believes Lan can meet the payback requirement to avoid the death penalty. Under Vietnamese court law, if Lan can return three-quarters of the embezzled assets, the jury can consider a reduction in her sentence.

The real estate mogul’s trials have grabbed global attention due to the severity of the sentence. The Communist government is showcasing that her cases are the kind of high-level corruption it wants to go after.

Tycoon Shocked

Lan earlier this month appeared shocked and her voice trembled in court when prosecutors proposed that the death sentence remain. She said she was psychologically disturbed by the decision, according to news website VnExpress. The panel of judges asked her to calm down and said she had permission to continue her defense while seated, though she declined. 

In a second trial in October, she was sentenced to life in prison after being found guilty of illegally transporting roughly $4.5 billion across international borders, laundering some $17.5 billion in pilfered assets from Saigon Commercial Bank, and misappropriating about $1.2 billion from investors via bond issuances.

The former chairwoman of Van Thinh Phat Group is one of the highest-profile targets of the government’s years-long anti-corruption crackdown, known as the “blazing furnace” campaign. It was spearheaded by the late Communist Party General Secretary Nguyen Phu Trong and his successor, To Lam, has said he will “resolutely” continue the aggressive push that has touched all aspects of society and led to the detention of scores of senior officials and business executives.

In the most recent example, disciplinary measures were taken against well-known political figures including the former parliament chairman, Vuong Dinh Hue, who was given an official warning for violating anti-corruption regulations on Nov. 21. It’s the first time one of the holders of the nation’s top four political positions has been publicly disciplined in this way.

The appeal hearing was initially expected to end on Nov. 25, but the drive for Lan to return as much cash as possible extended the process. The court has now adjourned to consider its decision, which is expected on Tuesday, according to Lan’s legal team.

“We really hope that the court will give her a chance to live so she can manage to settle all the debt,” her lawyer Thanh said. 

Forty seven other defendants are appealing their sentences during the same hearing, according to local media.

About the Authors
By Francesca Stevens
See full bioRight Arrow Button Icon
By Nguyen Dieu Tu Uyen
See full bioRight Arrow Button Icon
By Bloomberg
See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Finance

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Finance

em
Commentary250 Years of Innovation
America’s 250th birthday has Elon Musk and a record IPO. Its 15th had Alexander Hamilton — and a stock market bubble
By Owen LamontJuly 2, 2026
46 minutes ago
paramount
CommentaryAntitrust
How Paramount’s theater commitments could boost local economies across the nation
By Ike BrannonJuly 2, 2026
46 minutes ago
Top CD rates today, July 2, 2026: Lock in up to up to 4.40%
Personal FinanceCertificates of Deposit (CDs)
Top CD rates today, July 2, 2026: Lock in up to up to 4.40%
By Glen Luke FlanaganJuly 2, 2026
1 hour ago
Today’s top high-yield savings rates: Up to 5.00% on July 2, 2026
Personal FinanceSavings accounts
Today’s top high-yield savings rates: Up to 5.00% on July 2, 2026
By Glen Luke FlanaganJuly 2, 2026
1 hour ago
Sam Altman seeks new world order for AI as OpenAI slowly loses ground to Google and Anthropic 
AIMarkets
Sam Altman seeks new world order for AI as OpenAI slowly loses ground to Google and Anthropic 
By Jim EdwardsJuly 2, 2026
2 hours ago
Current refi mortgage rates report for July 2, 2026
Personal FinanceReal Estate
Current refi mortgage rates report for July 2, 2026
By Glen Luke FlanaganJuly 2, 2026
4 hours ago

Most Popular

As Big Tech showers employees with perks to win the talent war, Nvidia built a nearly $5 trillion company by making people pay for their own lunch
Big Tech
As Big Tech showers employees with perks to win the talent war, Nvidia built a nearly $5 trillion company by making people pay for their own lunch
By Marco Quiroz-GutierrezJuly 1, 2026
1 day ago
MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year
Success
MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year
By Sydney LakeJune 25, 2026
7 days ago
The Supreme Court's birthright citizenship ruling hands the U.S. economy a $7.7 trillion win
Newsletters
The Supreme Court's birthright citizenship ruling hands the U.S. economy a $7.7 trillion win
By Diane BradyJuly 1, 2026
1 day ago
Current price of oil as of July 1, 2026
Personal Finance
Current price of oil as of July 1, 2026
By Joseph HostetlerJuly 1, 2026
23 hours ago
Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster
Success
Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster
By Preston ForeJune 27, 2026
5 days ago
Elon Musk on MacKenzie Scott giving away $26 billion of her fortune: 'Sadly,' it makes the world a worse place
Success
Elon Musk on MacKenzie Scott giving away $26 billion of her fortune: 'Sadly,' it makes the world a worse place
By Sydney LakeJune 29, 2026
3 days ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.