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Vietnam sentences real estate tycoon Truong My Lan to death in its largest-ever fraud case (apnews.com)

submitted 7 months ago by NightOwl@lemmy.ca to c/worldnews@lemmy.ml

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[-] Sludgehammer@lemmy.world 66 points 7 months ago

The 67-year-old chair of the real estate company Van Thinh Phat was formally charged with fraud amounting to $12.5 billion — nearly 3% of the country’s 2022 GDP.

Wow, when your fraud starts being measured in "percentage of GDP" you know you got too greedy.

[-] iturnedintoanewt@lemm.ee 32 points 7 months ago* (last edited 7 months ago)

According to prosecutors, over a period of three years from February 2019, she ordered her driver to withdraw 108 trillion Vietnamese dong, more than $4bn (£2.3bn) in cash from the bank, and store it in her basement.