In a high-profile appellate trial, the High People's Court of Ho Chi Minh City upheld the death sentence for Truong My Lan.

The court delivered its verdict on December 3, confirming the death penalty for Lan for embezzlement, while adjusting other charges.

Lan's sentence for "violations of lending regulations in credit institution activities" was reduced from 20 years to 16 years. Her 20-year sentence for "bribery" remains unchanged. When combined, the sentences culminate in the death penalty.

Additionally, the court rejected the appeal of Do Thi Nhan, maintaining her life sentence for "accepting bribes."

The court granted some sentence reductions for other defendants. Former SCB Bank CEO Vo Tan Hoang Van had his sentence for lending violations reduced from 19 to 16 years, though his life sentence for embezzlement was upheld, resulting in a combined life sentence.

Chu Lap Co, another defendant, saw his sentence reduced from 9 to 7 years for violating banking regulations.

Further reductions were granted to:

Truong Hue Van: from 17 to 13 years,
Truong Khanh Hoang (former acting CEO of SCB Bank): from 18 to 17 years,
Tran Thi My Dung (former SCB Deputy CEO): from 16 to 15 years.

Nguyen Cao Tri, former Chairman of Capella Holdings, had his sentence reduced from 8 to 6 years for "abuse of trust to appropriate assets." Tran Thi Kim Chi had her sentence reduced from 4 years to a 3-year suspended sentence.

Thirty-nine other defendants received sentence reductions ranging from three months to three years.

Regarding asset seizures, the court ruled that properties at 21-21A Tran Cao Van Street rightfully belong to Truong My Lan and would remain seized for enforcement.

Lan's request to recover VND 5 trillion ($205 million) in additional SCB Bank equity contributions for sentencing payments was denied, as the funds were integrated into SCB's operations in 2021. Her appeal to waive over VND 673 billion ($27.5 million) in court fees was also rejected.

The court ordered Lan to repay VND 673 trillion ($27.5 billion) to SCB Bank. Additionally, 1,121 collateral assets tied to 1,243 loans will be handled by SCB in coordination with enforcement agencies. The court upheld the seizure of 658 assets owned by Van Thinh Phat Group, along with Lan's personal real estate and yachts.

Lan retains the right to appeal for clemency from the President within seven days of the judgment taking effect. If she cooperates fully and remedies three-fourths of the damages, her sentence could be commuted from death to life imprisonment.

Thanh Phuong