Truong My Lan

Truong My Lan, chairwoman of Van Thinh Phat Holdings, second from left, arrives at the Ho Chi Minh City People's Court in Ho Chi Minh City, Vietnam, Photo: Maika Elan/Bloomberg. Over the past year, Vietnam has been aggressively cracking down on corruption—a campaign that culminated with Truong My Lan, a 67-year-old former real estate tycoon, being sentenced to death earlier this month for her involvement in the country's biggest financial fraud case in history. 

Lan, a high-profile businesswoman who chaired a sprawling company that developed luxury apartments, hotels, offices, and shopping malls, was formally charged with fraud amounting to $12.5 billion—nearly 3 percent of the country's 2022 gross domestic product (GDP). More than 80 others, including central bank officials, have been implicated in the case, which was first filed in 2022 and has prompted a crackdown on corruption. 

Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.

  • Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM websites including and

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Natasha Teja

Natasha Teja is a Singapore-based correspondent for International. She writes about legal and regulatory issues across Asia. Her coverage includes the business of law at international and regional law firms and in-house legal departments, major litigation and arbitration, and the impact of regulatory decisions on law firms and global companies. She can be reached at [email protected].