越南

Trial begins for Vietnamese property tycoon accused of $12bn fraud

Truong My Lan’s case part of anti-corruption campaign launched by ruling Communist party
Truong My Lan has been charged with bribery, embezzlement, abuse of power and ‘lack of responsibility causing serious consequences’, according to state media

The fraud trial of a Vietnamese real estate tycoon who allegedly misappropriated $12bn started on Tuesday, as part of the country’s largest corruption case that has also ensnared officials from the central bank and government.

Truong My Lan faces a death sentence or imprisonment if found guilty in the graft case, which has rocked the property and corporate bond markets of one of the world’s fastest-growing economies.

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