Vietnamese tycoon Truong My Lan's life sentence cut to 30 years

Central bank drafts reform plan for her troubled bank, local media reported

20250421 Truong My Lan appeared at 20241017

Vietnamese real estate tycoon Truong My Lan, center, appears to hear her verdict on charges of fraud, money laundering and illegal cross-border money transferring in Ho Chi Minh City, Oct. 17, 2024. © AP

MAI NGUYEN

April 21, 2025 18:47 JST

HANOI -- Judges in Vietnam on Monday reduced the life sentence of disgraced Vietnamese tycoon Truong My Lan to 30 years in prison on appeal.

Lan, former chairwoman of property developer Van Thinh Phat Group, was once one of Vietnam's richest people, owning prime assets across the country. She was arrested in 2022 and sentenced to death and life imprisonment in two separate trials for her financial crimes.