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| Trương Mỹ Lan, chairwoman of Vạn Thịnh Phát Group, at the appeal trial in HCM City on Friday. — VNA/VNS Photo |
HCM CITY — Prosecutors have proposed maintaining the death sentence for Trương Mỹ Lan, chairwoman of Vạn Thịnh Phát Group, for massive fraud in Việt Nam’s largest scam.
While acknowledging some new mitigating factors related to lending regulations, the prosecution deemed them insufficient to change the death sentence.
The HCM City People’s High Court is reviewing 68-year-old Lan's appeal against the verdict and considering requests for reduced sentences from 47 other defendants.
In her handwritten appeal, Lan called the death sentence “excessively severe” and urged the court for a more “lenient and humane approach.” She expressed distress over public perception and the impact on her family's happiness.
Defendant Đỗ Thị Nhàn, head of the central bank's inspection team, should have faced the death penalty for accepting bribes, but the first-instance court sentenced her to life imprisonment after she repaid the embezzled funds.
During her appeal, she added VNĐ500 million (US$19,685) and paid a VNĐ100 million fine.
They requested the denial of her appeal and upholding of the original life sentence.
The trial revealed that Nhàn led the inspection team, concealed violations with Lan, received $5.2 million from Saigon Commercial Joint Stock Bank (SCB), and directed subordinates to create a misleading inspection report to protect SCB.
Trương Mỹ Lan was sentenced to death in April for embezzling $27 billion from SCB, a sum equal to 6 per cent of Việt Nam’s 2023 GDP.
Lan also received a life sentence for issuing counterfeit bonds and illegal money transfers across borders.
Authorities have reported at least 42,000 victims from fraudulent bonds faced significant losses, leading to constant protests across the nation.
The court has ordered Lan to fully compensate the victims of the fraud.
The appeal trial is expected to conclude by the end of this month. — VNS
