Written by 
25-10-2024 07:00
Truong My Lan, a prominent Vietnamese businesswoman, was convicted of masterminding a large-scale fraud scheme involving over 12 billion dollars. She has been sentenced to death, but she is appealing.
Her case has shaken Vietnam’s business community and is part of a broader anti-corruption campaign led by the communist government. Lan built her wealth in the 1980s by investing in property and founding a leading real estate company. She manipulated bank ownership laws and created fake companies to embezzle vast amounts of money from Saigon Commercial Bank.
This case is also linked to Vietnam’s fast economic growth, which has received good and bad reactions. The anti-corruption campaign aims to attract foreign investment but has been criticized for targeting political opponents and slowing down government decisions. Despite these issues, Vietnam is still popular with foreign investors, but its future success depends on clearer rules and better management.
Difficult words: mastermind (to plan and direct a difficult activity), embezzle (to steal money from a company or organization), anti-corruption campaign (activities that prevent or lessen dishonest behavior by people in power).
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