Vietnam Death Row Tycoon promises to convert real estate into “Golden Gans”

A Vietnamese Tycoon, who tries to avoid a death sentence for fraud in the amount of several billion dollars, has promised to transform their ownership empire into a “golden goose” in order to repay the assets that she has unsettled, said her lawyer on Tuesday.

Real estate developer Truong, my LAN, lost in December against the death penalty in a case in which she was guilty for the theft of money from Saigon Commercial Bank (SCB) and fraud in the amount of $ 27 billion.

The Court of Appeal decided that there was no basis to reduce her punishment, but it could still escape the death penalty if it paid three quarters of the stolen amount.

In a letter that was sent from prison to a state -controlled committee who edited her real estate, LAN said that her assets were significantly undervalued, which caused the state to have potential losses and affects its rights, said her lawyer Giang Hong Thanh AFP.

Lan said that the government appointed by the government, which rated its assets in 726, estimated some of them real estate projects in first-class areas in the largest cities in Vietnam at around $ 9.7 billion.

But LAN argued, however, according to the new land prize guidelines published by authorities in Ho Chi Minh City, where most of the projects were located, and their value had probably increased by 3-5 times.

It added if her other 440 assets were evaluated, the state could collect at least another 7.7 billion US dollars.

“I believe that with my 30 years of experience in the real estate business and my thorough legal understanding … could transform most of the assets into a golden goose so that the state can regain the costs,” wrote LAN in her letter and advocated enabling the authorities to enable them.

Tens of thousands of people who invested their savings in SCB lost money, shocked the communist nation and demanded rare protests from the victims.

In a second appeal procedure in April of this year, Lan's lifelong prison sentence was reduced to $ 17 billion in a separate monetary laundry.

Prosecutors said they repaid a quarter of the 1.2 billion US dollars that cheated on thousands of bond investors.

TMH/APH/PDW/DHC