Vietnamese mogul sentenced to death for record fraud

. Real estate tycoon Truong My Lan received the death penalty for orchestrating a $12.5 billion fraud scheme worth about 3% of the country’s 2022 GDP. The businesswoman was found guilty of unlawfully seizing control of Saigon Joint Stock Commercial Bank and draining its funds by issuing loans to her own dummy companies while bribing regulators. The court said her actions undermined “people’s trust in the leadership of the Party and State.” The conviction, alongside those of 83 other defendants, is part of a sweeping anti-corruption push by Vietnam’s leadership as it tries to lure foreign investors looking for an alternative to China.