Lan, 67, the chairwoman of Van Thinh Phat Team, was arrested in 2022 and at some point faced prices which includes bribery of govt officers and violation of lender lending principles. The key circumstance towards her was that she embezzled funds from Saigon Business Bank in between February 2018 and Oct 2022.

That sum exceeds the sector capitalization of most Vietnamese banking companies. Her arrest, at first on bond fraud charges, experienced led to panic among the depositors of SCB, triggering a run on the financial institution. The events resulted in the Point out Bank of Vietnam getting handle of the loan provider.

Funds punishment is not unusual in Communist Vietnam, in which the dying penalty is awarded for 22 offenses, such as murder, armed theft, drug trafficking, rape, sexual abuse of children, and a range of economic crimes, this sort of as graft and corruption, fraud and embezzlement.

Lan’s demo set the spotlight on Vietnam’s years-prolonged anti-corruption marketing campaign spearheaded by Communist Celebration Secretary Nguyen Phu Trong.

The force has touched all sectors of society and the best concentrations of authorities and will come as the Southeast Asian country emerges as a world-wide source chain hub for providers such as Apple Inc. and Samsung Electronics Co. 

The circumstance and others have roiled the nation’s bond, banking and assets sectors. The last broadly publicized death penalty awarded on corruption charge was in 2013 when two previous executives of Vietnam Nationwide Delivery Strains have been uncovered responsible of embezzlement.

Lan’s corporation, also known as VTP, owns some of the most prestigious properties in the nation’s commercial hub of Ho Chi Minh Metropolis. Throughout the trial, Lan offered to hand in several of her loved ones-owned property to make up for the losses brought on to Saigon Industrial Bank, in accordance to VnExpress.

Lan has reported she didn’t deliberately crack the regulation or result in damage to the point out and depositors, her lawyer, Giang Hong Thanh, claimed in March.

The 5-week demo was conducted less than restricted protection at the Ho Chi Minh Town People’s Court docket. In all, 86 defendants have been experimented with in the case, which include Lan’s husband, Hong Kong businessman Eric Chu, and niece, VTP Main Govt Officer Truong Hue Van.