Vietnam Tycoon Faces Life Sentence for Financial Fraud

Vietnamese real estate magnate Truong My Lan has received a life sentence for financial misconduct. Previously sentenced to death over different charges, Lan is found guilty of property fraud, money laundering, and illegal cross-border transfers, as reported by the state-run Tuoi Tre newspaper.

In a significant legal development, a Vietnamese court has imposed a life sentence on prominent real estate tycoon Truong My Lan for charges related to financial fraud.

Lan, who chairs the Van Thinh Phat Holdings Group, was convicted of obtaining property by fraud, along with charges of money laundering and illegal cross-border money transfers.

The sentencing, covered by the state-affiliated Tuoi Tre newspaper, follows Lan's earlier death sentence handed down in April over separate allegations.

(With inputs from agencies.)