Vietnam’s former richest woman, who was sentenced to death, avoids execution

Vietnamese real estate mogul Truong My Lan will serve life in prison after escaping the death penalty, following recent legal reforms passed by the National Assembly. Lan, chair of Van Thinh Phat Group, was sentenced to death last year for her role in a $12.5 billion financial fraud through Saigon Commercial Bank, one of the largest in Vietnamese history.

The changes, which take effect July 1, remove the death sentence for eight offenses including embezzlement, corruption and espionage. Under the new law, all unexecuted death sentences for the affected crimes are automatically reduced to life imprisonment. Capital punishment remains in place for violent crimes such as murder and child sexual abuse.

Lan had already received a reduced sentence on appeal earlier this year after agreeing to repay a significant portion of the embezzled funds. Her legal team confirmed the amendments would apply retroactively, ensuring her reprieve.