by Joe Fotalattee
According to Vietnam News, The HCM City People’s Procuracy on Monday proposed life imprisonment for Nguyn Thái Luyn, 36, chairman of the board of directors of Alibaba Real Estate Company. Property fraud and money laundering by the company resulted in more than 4,500 victims losing more than VN2.4 trillion (US$101 million).
The prosecution recommended that V Th Thanh Mai, Luyn’s wife, serve more than 30 years in prison, with 20 years for property fraud and 12–14 years for money laundering.
Nguyn Thái Lc, Luyn’s younger brother, was recommended to serve more than 30 years in prison, with 20 years for property fraud and 10 to 12 years for money laundering.
The accountant for the business, Hunh Th Kim Thng, was recommended to serve five to six years in prison for money laundering.
Regarding the other defendants, the prosecution recommended 12 to 20 years in prison for property fraud.
The prosecution recommended that Luyn and his wife Mai compensate 4,550 victims with VN $2.54 trillion. In addition, it demanded that Mai return the VN$13 billion she had obtained through money laundering.
The judge will impose a sentence within the parameters prescribed by law.
