Truong My Lan, a Vietnamese real estate tycoon, was sentenced to death on Thursday for her role in a financial fraud case, in a major display of the ruling Communist Party’s resolve to crack down on corruption.
A court in Ho Chi Minh City sentenced Ms. Lan, who was arrested in 2022 and faced charges of bribing government officials, violating banking regulations and embezzling more than $12 billion from one of Vietnam’s largest banks.
The trial for Ms. Lan, who was the chairwoman of the real estate developer Van Thinh Phat Group, was part of the government’s campaign against corruption. The leader of Vietnam’s Communist Party, Nguyen Phu Trong, has sought for years to stamp out corruption as the nation emerges as a major manufacturing hub and as one of Asia’s fastest-growing economies.
Trong launched the anti-corruption drive in 2016, saying that graft could threaten the survival of the Communist Party, which has governed the country for nearly half a century. The campaign has led to the downfall of many business leaders and top officials, including former President Vo Van Tong, who resigned in March amid corruption allegations.
