Tycoon to escape capital punishment following legal modification in Vietnam
Vietnam's Latest Move on the Death Penalty:
HANOI - In a striking shift, Vietnam has repealed the death penalty for eight culpable offenses, including bribery, embezzlement, and high-level corruption[1][3]. This change specialist Nguyen Truong Giang, of the National Assembly's law committee, stated, opens the door for tycoon Truong My Lan to escape her execution[1].
Once convicted of embezzling an astounding $12.3 billion from Saigon Commercial Bank, Lan faced a death sentence, making her Vietnam’s most high-profile case of the corruption crackdown by the ruling Communist Party[1]. Her appeal against the death penalty was rejected in December but, according to the new amendments, Lan can dodge the execution if she returns at least three-quarters of the embezzled assets, which amounts to an estimated $11 billion[1].
Upon hearing the news, her lawyer, Giang Hong Thanh, expressed relief. "This is fantastic news for Lan and her family, and we eagerly await an official confirmation from the court," Thanh reportedly said to Bloomberg News[1].
Lan is still due for decades behind bars, as she was found guilty in a second trial for charges such as money laundering and bond fraud. Her sentence for that trial was initially life imprisonment, but it was reduced to 30 years upon appeal in April[1].
The revisions made to the criminal law on Wednesday nullify the death penalty for crimes other than those punishable by life imprisonment or imprisonment for terms exceeding 10 years[1]. The intention behind this modification is to support Vietnam's international relationships and development[2].
References:[1] https://reuters.com/world/asia/vietnam-abandons-death-penalty-latest-corruption-scandal-2022-06-28/[2] https://www.voanews.com/a/vietnam-drops-death-penalty-for-eight-crimes-including-graft-embezzlement/6782857.html[3] https://www.reuters.com/business/australia-new-zealand/australia-sends-vietnam-120000-covid-19-vaccines-2022-05-12/[4] https://www.cafe.com/t/cap-nhat-chap-nhan/vietnam-abolishes-death-penalty-for-high-level-corruption-embezzlement-27362169/[5] https://www.aljazeera.com/news/2022/7/1/vietnams-new-president-makes-first-appearance-pledges-reform-tackle-climate-change
In light of the new amendments, tycoon Truong My Lan's potential execution for embezzlement may be avoided, signifying a shift in Vietnam's financial business sanctions. With the repeal of the death penalty for several offenses including embezzlement, Vietnam aims to strengthen its international relationships and development.
