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Vietnam ends death penalty for 8 crimes, may spare real estate tycoon

Vietnam ends death penalty for 8 crimes, may spare real estate tycoon

Indian Express5 hours ago

Vietnam has lifted the death penalty for eight crimes in legal reforms that may spare the life of a real estate tycoon imprisoned in the country's largest financial fraud case.
The legal reforms in Vietnam ended the death penalty for eight crimes, including trying to overthrow the government, damaging state infrastructure, making and selling fake medicine, starting wars, spying, drug trafficking, embezzlement, and taking bribes.
Vietnamese lawmakers passed the reforms on Wednesday, according to state media.
Truong My Lan, sentenced to death for her involvement in Vietnam's largest financial fraud case, will be eligible to have her sentence reduced after the reforms, her lawyer said Thursday.
The 67-year-old chair of the real estate company Van Thinh Phat who was facing execution for her involvement in fraud amounting to $12.5 billion — nearly 3% of the country's 2022 GDP — will now be 'eligible for the exemption for the death penalty' according to the new rules, her lawyer Phan Minh Hoang told The Associated Press.
'We are still waiting for the official instructions of implementing the law amendment for next steps in her case,' Hoang said.
The new rules also say that anyone already sentenced to death for these crimes but not yet executed by July 1 will have their sentence changed to life in prison after a final decision by Vietnam's highest court.
After the legal changes, the maximum punishment for Lan's crimes will be life imprisonment without parole. Hoang said that they were continuing to work on repaying the damages to get her sentence further reduced.
The law change will likely impact other ongoing trials such as the one that started earlier this week involving the real estate and infrastructure development company Phuc Son Group, whose chairman Nguyen Van Hau is accused of paying over $5 million in bribes to win contracts for major infrastructure projects across three provinces.
Following the change, Vietnam now has the death penalty for 10 crimes like murder, sexual abuse of children, treason and terrorism.

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Vietnam ends death penalty for 8 crimes, may spare real estate tycoon
Vietnam ends death penalty for 8 crimes, may spare real estate tycoon

Indian Express

time5 hours ago

  • Indian Express

Vietnam ends death penalty for 8 crimes, may spare real estate tycoon

Vietnam has lifted the death penalty for eight crimes in legal reforms that may spare the life of a real estate tycoon imprisoned in the country's largest financial fraud case. The legal reforms in Vietnam ended the death penalty for eight crimes, including trying to overthrow the government, damaging state infrastructure, making and selling fake medicine, starting wars, spying, drug trafficking, embezzlement, and taking bribes. Vietnamese lawmakers passed the reforms on Wednesday, according to state media. Truong My Lan, sentenced to death for her involvement in Vietnam's largest financial fraud case, will be eligible to have her sentence reduced after the reforms, her lawyer said Thursday. The 67-year-old chair of the real estate company Van Thinh Phat who was facing execution for her involvement in fraud amounting to $12.5 billion — nearly 3% of the country's 2022 GDP — will now be 'eligible for the exemption for the death penalty' according to the new rules, her lawyer Phan Minh Hoang told The Associated Press. 'We are still waiting for the official instructions of implementing the law amendment for next steps in her case,' Hoang said. The new rules also say that anyone already sentenced to death for these crimes but not yet executed by July 1 will have their sentence changed to life in prison after a final decision by Vietnam's highest court. After the legal changes, the maximum punishment for Lan's crimes will be life imprisonment without parole. Hoang said that they were continuing to work on repaying the damages to get her sentence further reduced. The law change will likely impact other ongoing trials such as the one that started earlier this week involving the real estate and infrastructure development company Phuc Son Group, whose chairman Nguyen Van Hau is accused of paying over $5 million in bribes to win contracts for major infrastructure projects across three provinces. Following the change, Vietnam now has the death penalty for 10 crimes like murder, sexual abuse of children, treason and terrorism.

Vietnam Tycoon's Jail Term Reduced To 7 Years In $146 Million Fraud Case
Vietnam Tycoon's Jail Term Reduced To 7 Years In $146 Million Fraud Case

NDTV

time5 hours ago

  • NDTV

Vietnam Tycoon's Jail Term Reduced To 7 Years In $146 Million Fraud Case

Vietnam: A Vietnamese appeal court on Thursday slashed a former property and aviation tycoon's jail sentence in a $146 million fraud and stock market manipulation case from 21 years to seven. Trinh Van Quyet, who owned the FLC empire of luxury resorts, golf courses and budget carrier Bamboo Airways, was given the lengthy jail term in August after a trial. Quyet and 49 others including his two sisters and four stock exchange officials were punished for fraud, stock market manipulation, abuse of power and publishing incorrect stock market information. After a 10-day hearing in Hanoi, the appeal court dropped Quyet's three-year term for market manipulation and cut his 18-year sentence for fraud to seven years. The appeal court gave several other defendants reduced jail terms on Thursday. Its ruling comes after the tycoon's family paid nearly $96 million in compensation for the losses. According to the indictment in August, Quyet set up several stock market brokerages and registered dozens of family members, ostensibly to trade shares. Police said while orders to buy shares were placed in hundreds of trading sessions -- pushing up the value of the stock -- they were cancelled before being matched. The court said there were 25,000 victims of the fraud as Quyet illegally pocketed more than $146 million between 2017 and 2022. The appeal court said it had received 5,000 letters asking for a reduction of punishment for Quyet "from the victims, FLC staff, some associations and local authorities". The case is part of a national corruption crackdown that has swept up numerous officials and members of Vietnam's business elite in recent years.

Vietnam ends death penalty for 8 crimes, may spare tycoon Truong My Lan
Vietnam ends death penalty for 8 crimes, may spare tycoon Truong My Lan

Business Standard

time8 hours ago

  • Business Standard

Vietnam ends death penalty for 8 crimes, may spare tycoon Truong My Lan

Vietnam has lifted the death penalty for eight crimes in legal reforms that may spare the life of a real estate tycoon imprisoned in the country's largest financial fraud case. The legal reforms in Vietnam ended the death penalty for eight crimes, including trying to overthrow the government, damaging state infrastructure, making and selling fake medicine, starting wars, spying, drug trafficking, embezzlement, and taking bribes. Vietnamese lawmakers passed the reforms on Wednesday, according to state media. Truong My Lan, sentenced to death for her involvement in Vietnam's largest financial fraud case, will be eligible to have her sentence reduced after the reforms, her lawyer said Thursday. The 67-year-old chair of the real estate company Van Thinh Phat who was facing execution for her involvement in fraud amounting to USD 12.5 billion nearly 3 per cent of the country's 2022 GDP will now be eligible for the exemption for the death penalty according to the new rules, her lawyer Phan Minh Hoang told The Associated Press. We are still waiting for the official instructions of implementing the law amendment for next steps in her case, Hoang said. The new rules also say that anyone already sentenced to death for these crimes but not yet executed by July 1 will have their sentence changed to life in prison after a final decision by Vietnam's highest court. After the legal changes, the maximum punishment for Lan's crimes will be life imprisonment without parole. Hoang said that they were continuing to work on repaying the damages to get her sentence further reduced. The law change will likely impact other ongoing trials such as the one that started earlier this week involving the real estate and infrastructure development company Phuc Son Group, whose chairman Nguyen Van Hau is accused of paying over USD 5 million in bribes to win contracts for major infrastructure projects across three provinces. Following the change, Vietnam now has the death penalty for 10 crimes like murder, sexual abuse of children, treason and terrorism.

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