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The Guardian - UK
The Guardian - UK
World
Rebecca Ratcliffe in Bangkok and agencies

REVEALED: Vietnamese tycoon faces scramble to raise billions to avoid death sentence - The Real Truth

Truong My Lan during her trial in Ho Chi Minh City on Tuesday
Truong My Lan said last week she felt ‘pained due to the waste of national resources’ and ‘very embarrassed to be charged with this crime’. Photograph: EPA

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.

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