Vietnamese tycoon faces scramble to raise billions to avoid death sentence

Truong My Lan must repay three-quarters of $12bn she embezzled from bank in a case that shocked the country

The Vietnamese property tycoon Truong My Lan has lost her appeal against the death penalty for masterminding a multibillion-dollar fraud scandal - though she could still save her life if she can repay most of the funds she embezzled.

Lan, who founded the real-estate developer Van Thinh Phat, was sentenced to death in April for embezzling $12bn (9.95bn) from Saigon Commercial Bank (SCB), in a case that shocked the country.