Vietnamese property tycoon sentenced to death in $27bn fraud case

Truong My Lan found guilty of embezzling from Saigon Commercial Bank in case that was part of wider crackdown

A prominent property tycoon has been sentenced to death for her role in Vietnam's biggest-ever fraud case.

Truong My Lan, the chair of the developer Van Thinh Phat, was found guilty of embezzlement, bribery and violations of banking rules on Thursday, in a case that has shocked the country. A total of $12.5bn (10bn) was embezzled, the equivalent of almost 3% of Vietnamese gross domestic product, but prosecutors said on Thursday the total damages caused by the scam now amounted to $27bn.