The appellate hearing, which took place on September 25, reviewed Dung's appeal for a lighter sentence. The court acknowledged the appeal, consequently reducing his imprisonment by one year from the original sentence handed down by the first-instance court.

The appellate court also dismissed the prosecution's appeal to increase the penalty for Dung but ordered him to compensate Ms. Pham Thi T., a victim from Thanh Hoa province, as part of his restitution obligations.

Dung’s defense, led by attorney Nguyen Van Tu, argued for leniency based on more than 1,000 petitions from affected parties who requested a reduced sentence. The lawyer highlighted that all financial restitution to the investors had been completed by the Civil Execution Department, which would have been settled earlier if not for procedural delays in identifying the victims.

Furthermore, the defense portrayed Dung as a compliant detainee who has contributed significantly to society over 30 years, building Tan Hoang Minh into a respected entity. Now 63, Dung reflected on his actions, recognizing them as a costly lesson due to his lack of legal understanding.

In his final statement, Dung expressed deep remorse to the victims, describing his ordeal as a painful lesson. He spoke about the challenges facing his company, which has shrunk from over 2,000 to just 100 employees, and shared his hopes of overcoming this difficult phase for the sake of his family.

Dung appealed to the court for the lightest possible sentence, stressing the severity of an eight-year term for his circumstances and expressing his desire to return home and address the challenges facing his company.

T. Nhung