The Vietnamese prosecutor’s office has informed the real estate billionaire, Truong My Lanwhich must return about $11 billion if he wants to avoid execution by lethal injection.
Lan, 68, has appealed her death sentence after being found guilty in April embezzle 12.3 billion dollars of Saigon Commercial Bank. Also was convicted of bribing government officials and violating bank lending regulations.
Until now, prosecutors have been opposed to clemency in their hearing in Ho Chi Minh Cityunless she finds a way to return a significant portion of the $16.4 billion she was convicted of in two separate trials, according to her lawyer.
“Now we try to help her avoid the death penalty” stated Giang Hong Thanh, Lan’s lawyer. “There is a group of foreign investors who have agreed to lend Lan 400 million dollars and they are working on the necessary documents to send the money,” he said.
This is one of the possible investments or loans that, according to his legal team, are being prepared to help Lan pay off some of his debts. Thanh believes Lan can meet the return requirement to avoid the death penalty. According to Vietnamese law, If Lan can return three-quarters of the embezzled assets, the jury may consider a reduction in his sentence..
The real estate magnate’s trials have garnered worldwide attention due to the severity of the sentence. The communist government is proving that its cases are the kind of high-level corruption it wants to pursue.
Earlier this month, Lan appeared shaken and her voice shook in court when prosecutors proposed that the death penalty be upheld. He said he felt psychologically disturbed for the decision, according to the VnExpress news website. The court asked her to calm down and gave her permission to continue her seated defense, but she refused.
In a second trial in October, she was sentenced to life in prison after being found guilty of illegally transporting some $4.5 billion across international borderslaundering about $17.5 billion in assets stolen from Saigon Commercial Bank and misappropriating about $1.2 billion from investors through bond issues.
Former group president Van Thinh Phat is one of the most prominent targets of the government anti-corruption campaignknown as the campaign “burning oven”. It was headed by the late General Secretary of the Communist Party, Nguyen Phu Trongand his successor, To Lamhas stated that it will “resolutely” continue the aggressive offensive that has affected all aspects of society and has led to the arrest of dozens of senior officials and executives.
In the most recent example, Disciplinary measures were taken against well-known political figuresamong them the former president of Parliament, Vuong Dinh Huewhich received an official warning for violating anti-corruption regulations on November 21. It is the first time that one of the four most important political positions in the country has been publicly sanctioned in this way.
The appeal hearing was initially scheduled to conclude on November 25, but Lan’s desire to return as much money as possible lengthened the process. Now the court has postponed the hearing to consider its decision, which is expected on Tuesday, according to Lan’s legal team.
“Really We hope the court gives him a chance to live. so that he can manage to pay off all the debt,” said his lawyer Thanh.
Another 47 defendants are appealing their sentences during the same hearing, according to local media.
(With information from Bloomberg)
