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Mar 02, 2024 - 10:25
By asia.nikkei.com

Vietnam property tycoon heads to trial in $40bn graft case

PHNOM PENH -- A Vietnamese real-estate tycoon is set to go on trial Tuesday over allegations that she and others fraudulently took out $40 billon in loans from a commercial bank in a high-profile graft case that could see her executed if convicted.

The case against Truong My Lan, who chairs property developer Van Thinh Phat Holdings Group, comes as Vietnam ramps up efforts to battle endemic corruption in the country's business sector.