Vietnamese tycoon ordered to repay $11 billion to avoid execution

Property developer Truong My Lan was convicted for large-scale bribery in April and sentenced to death A Vietnamese property tycoon convicted of large-scale fraud must return $11 billion to avoid execution by lethal injection, several media outlets have reported. The ultimatum was made by prosecutors in Ho Chi Minh City as part of Truong My Lan’s appeal hearing on Tuesday, according to Bloomberg. The billionaire, aged 68, was found guilty in April of embezzling US$12.3 billion from Saigon Commercial Bank (SCB) as chairwoman of the real estate developer Van Thinh Phat Holdings Group (VTP). The prosecution stated th

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