Vietnam corruption

Truong My Lan, 68, may be eligible for clemency if she is able to return at least 75 percent of the misappropriated assets.

Truong My Lan, 68, is already on death row for masterminding the embezzlement of $26.8 billion from Saigon Commercial Bank.

Trinh Van Quyet, the founder and chairman of the FLC Group, was sentenced to 21 years in prison for defrauding investors of around $144 million.

The late party chief was widely respected for his perceived incorruptibility and contribution to Vietnam’s political stability.

Nguyen Phu Trong devoted his political career to purifying the system, but his anti-corruption crackdown exposed the communist regime’s political decay.

Truong Thi Mai, the permanent member of the Party Central Committee's Secretariat, is the third top leader to step down in the past two months.

After years of focusing narrowly on economic growth, the Communist Party is seeking a different – and sharper-edged – form of legitimacy.

The country's corruption crackdown, which has led to the exit of two senior leaders in recent weeks, reflects an alarming escalation of cronyism and party infighting.

The highly-publicized nature of the Van Thinh Phat trial is a possible sign of further political turbulence at the upper echelons of Vietnamese politics.

Coming amid rumors of further political shake-ups, the arrest casts a shadow over the political future of Chairman Vuong Dinh Hue.

Truong My Lan was found guilty of embezzling an astonishing $12.54 billion from Saigon Commercial Bank in the decade to 2022.

Vo Van Thuong resignation comes barely a year after his appointment to the largely ceremonial post.