If you thought the largest financial fraud case that shook Vietnam was over, think again! Welcome to Vietnam and welcome to the saga that keeps on unfolding, leaving everyone in disbelief. In a jaw-dropping twist, Vietnam’s very own Bernie Madoff, convicted criminal Truong My Lan, APPEALS Capital Sentence and might end up walking free! Yes, you heard it right! She might end up walking free! And in this video, we are going to unravel the possible reasons why she might be released from prison and the latest updates in this ongoing saga. The chairwoman of Van Thinh Phat is caught between life and death, as there are numerous updates in this case, and one government officer is facing disciplinary action because of it. But who is it? And what about the victims of this case? Let’s dive into the details and uncover the shocking news together!

Ms. Truong My Lan, Vietnam’s Bernie Madoff on steroids, masterminded the country’s largest fraud. At 68, she exploited the State’s restructuring of Saigon Commercial Bank (SCB), using it as her personal piggy bank after merging two lenders. Indirectly owning 91.5% of SCB, she directed bank officials to approve loans for her companies within her Van Thinh Phat conglomerate, hiding her identity with shell companies. Over a decade, she and her accomplices secured 2,500 fraudulent loans, draining $27 billion from the bank.

To mask her crimes, Lan bribed auditors from the State Bank of Vietnam. After a massive two-month trial with over 2,400 individuals, six tons of documents, 200 attorneys, and $27 billion at stake, the People’s Court of Ho Chi Minh City sentenced her to death for bribery, violating banking regulations, and embezzlement— an unprecedented verdict for financial fraud in Vietnam.

Current situation

A few weeks ago, The People’s Court of Ho Chi Minh City received Lan’s appeal. And guess what? As it is Vietnam, the details of her three-page handwritten appeal are still under wraps. Alongside Lan, 50 other defendants have also appealed for reduced sentences.

To learn more about the real situation of Ms. Truong My Lan and how Vietnam can recover money from her, click on the video below. Lawyer Ken Duong will discuss the details and provide advice on how to protect your assets in Vietnam.