HCM City, April 21 -- The High-level People's Court in Ho Chi Minh City on April 21 reduced the life sentence to 20 years imprisonment for Truong My Lan, former Chairwoman of Van Thinh Phat Group, at the appeal trial for the second phase of a major financial crime case involving the conglomerate and the Saigon Commercial Joint Stock Bank (SCB).

Previously, on October 17, 2024, the first-instance trial of the second phase sentenced Lan to life imprisonment for "fraudulent appropriation of assets", 12 years for "money laundering", and eight years for "illegal cross-border money transfers", with a total sentence of life imprisonment. Thirty-three other defendants received sentences ranging from 2 to 23 years.

The court affirmed Lan's centr...