Vietnamese Billionaire Truong My Lan's Luxury Assets Auctioned to Recover Fraud Losses
Vietnamese real estate billionaire Truong My Lan was convicted in 2024 for her role in a 44 billion VND banking fraud and sentenced to life imprisonment after Vietnam abolished the death penalty for economic crimes. Authorities have auctioned her seized luxury assets, including Hermes Birkin bags and cars, to recover losses. Despite Lan's request to keep some bags for her family, the sales have raised over 535,000 USD, with about 27 billion VND still owed in compensation to fraud victims.