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Vietnamese billionaire sentenced to death for $44bn fraud

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It was the most spectacular trial ever held in Vietnam, befitting one of the greatest bank frauds the world has ever seen.

Behind the stately yellow portico of the colonial-era courthouse in Ho Chi Minh City, a 67-year-old Vietnamese property developer was sentenced to death on Thursday for looting one of the country’s largest banks over a period of 11 years.

It’s a rare verdict – she is one of very few women in Vietnam to be sentenced to death for a white collar crime.

The decision is a reflection of the dizzying scale of the fraud. Truong My Lan was convicted of taking out $44bn (£35bn) in loans from the Saigon Commercial Bank. The verdict requires her to return $27bn, a sum prosecutors said may never be recovered. Some believe the death penalty is the court’s way of trying to encourage her to return some of the missing billions.

The habitually secretive communist authorities were uncharacteristically forthright about this case, going into minute detail for the media. They said 2,700 people were summoned to testify, while 10 state prosecutors and around 200 lawyers were involved.

The evidence was in 104 boxes weighing a total of six tonnes. Eighty-five others were tried with Truong My Lan, who denied the charges and can appeal.

All of the defendants were found guilty. Four received life in jail. The rest were given prison terms ranging from 20 years to three years suspended. Truong My Lan’s husband and niece received jail terms of nine and 17 years respectively.

“There has never been a show trial like this, I think, in the communist era,” says David Brown, a retired US state department official with long experience in Vietnam. “There has certainly been nothing on this scale.”

The trial was the most dramatic chapter so far in the “Blazing Furnaces” anti-corruption campaign led by the Communist Party Secretary-General, Nguyen Phu Trong.

A conservative ideologue steeped in Marxist theory, Nguyen Phu Trong believes that popular anger over untamed corruption poses an existential threat to the Communist Party’s monopoly on power. He began the campaign in earnest in 2016 after out-manoeuvring the then pro-business prime minister to retain the top job in the party.

(BBC News)

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All necessary procedures to launch Starlink services in SL competed – Dy. Minister

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The government has completed all necessary procedures to launch Starlink services in Sri Lanka, says Deputy Minister of Digital Economy Eranga Weeraratne.

According to Deputy Minister Weeraratne, once the expected information dashboard is received from Starlink, the service could be launched without any operational delays.

He made this statement while attending a bilateral meeting organized by the Sri Lankan High Commission in Singapore, held alongside the 2025 Tech Summit Asia in Singapore.

The matter was discussed during a meeting between Deputy Minister of Digital Economy Eranga Weeraratne and Ambassador Stephan Lang, the United States’ Coordinator for International Communications and Information Policy at the U.S. Department of State.

During the meeting, several strategic areas were also discussed.

Ambassador Lang emphasized the importance and urgency of these initiatives, describing them as both challenging and essential for Sri Lanka’s digital future. He reiterated the United States’ continued commitment to supporting Sri Lanka in implementing these transformative digital policies and programs.

(adaderana.lk)

(Except for the headline, this story, originally published by adaderana.lk has not been edited by SLM staff)

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2 more arrested over shooting Halloluwa’s vehicle

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Two more individuals have been arrested over the shooting incident targeting the vehicle of former Executive Director of the National Lotteries Board –  Thusitha Halloluwa.

According to the police, the duo was arrested by the Colombo South Divisional Crime Detective Bureau today (02).The suspects, aged 27 and 37 have been arrested in Kadawatha and Ganemulla.

According to Police, a cache of 13 rounds of T-56 type ammunition and 10 grams of the crystal methamphetamine also known as ICE were also found in the suspects’ possession.

The suspects are scheduled to be produced before the Hulftsdorp Magistrate’s Court tomorrow (June 03).

Further investigations are underway.

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MoH issues update on Covid-19 situation

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Secretary of the Ministry of Health – Dr. Anil Jasinghe has issued a special statement with regard to the Covid-19 situation in Sri Lanka.

“According to data from the World Health Organization (WHO), a global increase in the activity of the SARS-CoV-2 virus, which causes COVID-19, has been reported since February 2025. Based on the International Respiratory Surveillance System, several countries, including several countries in Asia have reported a notable rise in COVID-19 cases in recent months, the statement states.

In May 2023, the WHO officially declared the end of the COVID-19 global pandemic status, and since then, COVID-19 has been treated as a disease that circulates endemically, similar to other common respiratory infections. It is a known phenomenon for the SARS-CoV-2 virus to undergo genetic mutations during its transmission,” the statement added.

“It is a known phenomenon for the SARS-CoV-2 virus to undergo genetic mutations during its transmission. The currently circulating variant reported in many countries in 2024 has been identified as a sub lineage of a previously known genetic variant. In 2024, this same variant has been detected in Sri Lanka as well.”

“In May 2025, specimens tested by the Medical Research Institute (MRI) confirmed the presence of these previously identified sub-lineages. Therefore, these are not novel variants, and no evidence of increased severity or complications has been reported,” the statement further notes.

Noting that seasonal increases in respiratory illnesses like influenza are commonly observed in recent times, especially under prevailing climatic conditions, the statement states that health authorities remain vigilant in monitoring disease trends, and the public need not panic unnecessarily.

“If individuals experience fever or respiratory symptoms, there is no need for hospital admission out of fear. However, if someone experiences difficulty breathing, medical attention should be sought,” Dr. Jasinghe says.

“Nevertheless, it is important to maintain good respiratory etiquette and general health practices to prevent the spread of COVID-19 and other respiratory viral infections, such as influenza. Recommended measures include covering the mouth and nose with a tissue or the elbow when coughing or sneezing, avoiding unnecessary contact with the face, and ensuring frequent hand hygiene through proper hand washing or the use of alcohol-based hand sanitizers. It is also advisable to avoid touching the face with unclean hands. Individuals exhibiting symptoms of respiratory illness should wear a face mask to minimize the risk of transmitting the infection to others and avoid crowded public settings unless essential. Special attention must be directed towards high-risk populations, as they are more susceptible to developing complications from respiratory infections. These groups include older adults, pregnant women, and infants and young children, whose immune systems are either compromised or still developing. Furthermore, individuals with underlying medical conditions such as heart disease, chronic respiratory illnesses, diabetes, renal disease, cancer, or other chronic diseases, as well as those receiving immunosuppressive therapy, are at increased risk and require additional protection,” the statement further adds.

The full statement is as follows :

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