Truong My Lan, a Vietnamese billionaire, has been sentenced to death for looting billions from Saigon Commercial Bank. The case sheds light on Vietnam's anti-corruption campaign led by Communist Party Secretary-General Nguyen Phu Trong.

Vietnamese billionaire Truong My Lan, aged 67, has been sentenced to death for her involvement in one of Vietnam's largest bank fraud cases. The verdict was delivered on Thursday, April 11, at the historic colonial-era courthouse in Ho Chi Minh City.

Truong My Lan, a prominent property developer, is among the few women in Vietnam facing the death penalty for a white-collar crime. She was found guilty of embezzling a staggering $44 billion in loans from the Saigon Commercial Bank. Despite the verdict, recovering the full amount, estimated at $27 billion, seems uncertain, according to prosecutors.

Speculation surrounds the severity of the sentence, with some suggesting it's a strategic move by the court to compel Truong My Lan to return part of the looted funds. The trial, involving 85 defendants alongside Truong My Lan, featured an extensive roster of 2,700 witnesses, 10 state prosecutors, and approximately 200 lawyers. The evidence, weighing six tonnes and contained in 104 boxes, underscores the scale of the case.

David Brown, a former US State Department official with deep ties to Vietnam, described the trial as unprecedented in the communist era, signaling the gravity of the charges. The proceedings mark a significant chapter in Vietnam's "Blazing Furnaces" anti-corruption campaign spearheaded by Communist Party Secretary-General Nguyen Phu Trong.