Truong My Lan Auctions Hermes Bags and Cars to Repay $27 Billion Fraud Victims
Updated
Updated · CNN · Jun 18
Truong My Lan Auctions Hermes Bags and Cars to Repay $27 Billion Fraud Victims
3 articles · Updated · CNN · Jun 18
Summary
$539,000 from two Hermes handbags and about $630,000 from a Maybach are among the latest auction proceeds raised from Truong My Lan’s seized luxury assets.
Those sales barely dent the $27 billion she owes victims after convictions tied to siphoning roughly $44 billion through one of Vietnam’s largest banks; she has repaid only about $455,000 so far.
Three cars went under the hammer last month, while authorities are still trying to sell bigger-ticket assets including a yacht initially listed near $2 million and later cut 18% after failed attempts.
Vietnam last year removed the death penalty for embezzlement, commuting Lan’s 2024 death sentence to life imprisonment, but she still faces two life terms as officials continue processing assets for compensation.