The Birkin Bags of an Imprisoned Billionaire Go on Sale. It Won't Be Enough to Compensate Their Victims
8 Articles
8 Articles
By Stephanie Yang, CNN A series of luxury cars, bags and auctioned yachts has done little to help its owner, a disgraced Vietnamese magnate, pay the billions she owes to victims in one of the largest cases of fraud in history. Truong My Lan, who was one of Vietnam's richest businesswomen, received two life sentences for her central role in a scam in which she and her accomplices embezzled approximately $44 billion through one of the country's la…
Two luxury handbags belonging to a imprisoned Vietnamese businesswoman were sold for more than $500,000 at auction.
A disgraced Vietnamese tycoon has lost everything. Her luxury cars, expensive handbags and yachts. All of them were put up for auction to pay back the billions of dollars she owes to victims of one of the biggest frauds in history. Authorities were only able to sell her Birkin bags and cars, but that's still not enough to pay off all her debts.
Vietnam's justice system faces a major problem: auctioning seized property at Truong My Lan, the organizer of the largest financial scam ever registered, is not enough to compensate the victims, as the fraud was colossal.
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