Vietnamese property tycoon Truong My Lan, aged 68, is racing against time to raise $9 billion to avoid execution after her appeal against a death sentence was rejected.
Lan was convicted for orchestrating what is considered the world's largest bank fraud, involving Saigon Commercial Bank, Vietnam's fifth-largest lender.
Truong My Lan secretly controlled the bank, siphoning off loans and cash over more than a decade. The total amount involved in the fraud reached a staggering $44 billion, with $27 billion misappropriated and $12 billion embezzled.
This financial crime led to her rare and shocking death sentence, as she became one of the few women in Vietnam to face such a penalty for a white-collar crime.
Under Vietnamese law, Lan's death sentence could be commuted to life imprisonment if she manages to repay 75% of the embezzled amount, equating to $9 billion.
Her legal team has been working tirelessly to liquidate her assets, which include luxury properties and business stakes, to meet this requirement. However, the process is fraught with difficulties.
As her lawyer Nguyen Huy Thiep explained, "The total value of her holdings actually exceeds the required compensation amount, but these require time and effort to sell."
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