Truong My Lan, a Vietnamese property tycoon, was sentenced to death for masterminding a $12bn fraud scandal that devastated the financial sector and impacted thousands.
The judges upheld the death penalty, noting that Lan's crimes caused grave consequences and emphasizing there were no mitigating circumstances for her actions.
Lan, who owns a significant share of Saigon Commercial Bank, has been implicated in a massive embezzlement scheme that involved fake loan applications over several years.
In an attempt to recoup losses, Vietnam's central bank has provided SCB with $24bn in special loans, amid revelations that Lan's activities severely impacted the economy.
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