Vietnamese real estate tycoon, already sentenced to death for fraud, faces trial on new charges

HANOI, Vietnam (AP) — The second trial for Vietnamese real estate typcoon Truong My Lan — who was sentenced to death for financial fraud in April — started on Thursday, state media reported.

The 67-year-old chair of the real estate company Van Thinh Phat was convicted for orchestrating Vietnam's biggest ever financial fraud case, amounting to $12.5 billion — nearly 3% of the country’s 2022 GDP and for illegally controlling a major bank allowing loans that resulted in losses of $27 billion, state media said.

Her arrest and conviction was one of the highest profile cases in an anti-corruption drive that has intensified since 2022. The so-called blazing furnace campaign has also singed the highest echelons of Vietnamese politics and led to the resignation of a former president who was implicated in it.

Lan is being tried on fresh charges of appropriating property fraudulently and money laundering. According to a police investigation, she raised $1.2 billion from nearly 36,000 investors by issuing bonds illegally through four companies, state media reports say.

Investigators found 21 companies controlled by Lan's Van Thinh Phat that illegally transferred over $4.5 billion in and out of Vietnam between 2012-2022.

She is also accused of siphoning off $18 billion obtained through fraud.

The case also involves 33 other defendants. It is expected to last a month.

Lan and her family established the Van Thing Phat company in 1992 after Vietnam shifted from a state-run economy to a more market-oriented approach that was open to foreign investors. She started out helping her mother, a Chinese entrepreneur, sell cosmetics in Ho Chi Minh City’s oldest market, according to the state media outlet Tien Phong.

Van Thinh Phat became one of Vietnam’s richest real estate firms, with projects including luxury residential buildings, offices, hotels and shopping centers. This made her a key player in the country’s financial industry.

Lan’s first trial shocked many Vietnamese. Analysts said the scale of the scam raised questions about whether other banks or businesses had similarly erred, dampening Vietnam’s economic outlook and making foreign investors jittery at a time when Vietnam is trying to position itself as the ideal home for businesses trying to diversify supply chains away from China.

Business woman Truong My Lan, a real estate tycoon sentenced to death for financial fraud, attends her second trial in Vietnam's largest fraud case in Ho Chi Minh City, Vietnam Thursday, Sept. 19, 2024. (Thanh Tung/VNExpress via AP)

Businesswoman Truong My Lan, a real estate tycoon sentenced to death for financial fraud, attends her second trial in Vietnam's largest fraud case in Ho Chi Minh City, Vietnam Thursday, Sept. 19, 2024. (Thanh Tung/VnExpress via AP)

Business woman Truong My Lan, center, a real estate tycoon sentenced to death for financial fraud, attends her second trial in Vietnam's largest fraud case in Ho Chi Minh City, Vietnam Thursday, Sept. 19, 2024. (Thanh Tung/VNExpress via AP)

Business woman Truong My Lan, a real estate tycoon sentenced to death for financial fraud, attends her second trial in Vietnam's largest fraud case in Ho Chi Minh City, Vietnam Thursday, Sept. 19, 2024. (Thanh Tung/VnExpress via AP)

Business woman Truong My Lan, a real estate tycoon sentenced to death for financial fraud, attends her second trial in Vietnam's largest fraud case in Ho Chi Minh City, Vietnam Thursday, Sept. 19, 2024. (Thanh Tung/VnExpress via AP)

Hanukkah, Judaism’s eight-day Festival of Lights, begins this year on Christmas Day, which has only happened four times since 1900.

For some rabbis, the intersection of the two religious holidays provides an auspicious occasion for interfaith engagement.

“This can be a profound opportunity for learning and collaboration and togetherness,” said Rabbi Josh Stanton, a vice president of the Jewish Federations of North America. He oversees interfaith initiatives involving the 146 local and regional Jewish federations that his organization represents.

“The goal is not proselytizing; it's learning deeply from each other,” he said. “It’s others seeing you as you see yourself.”

One example of togetherness: a Chicanukah party hosted Thursday evening by several Jewish organizations in Houston, bringing together members of the city’s Latino and Jewish communities for a “cross cultural holiday celebration." The venue: Houston’s Holocaust museum.

The food on offer was a blend of the two cultures — for example a latke bar featuring guacamole, chili con queso and pico de gallo, as well as applesauce and sour cream. The doughnut-like pastries were sufganiyot — a Hanukkah specialty — and buñuelos, And the mariachi band took a crack at playing the Jewish folk song “Hava Nagila.”

“What really brings us together is our shared values — our faith, our families, our heritage,” said Erica Winsor, public affairs officer for the Jewish Federation of Greater Houston.

Rabbi Peter Tarlow, executive director of the Houston-based Center for Latino-Jewish Relations, said the first Chicanukah event 12 years ago drew 20 people, while this year the crowd numbered about 300, and could have been larger had not attendance been capped. He said the party-goers were a roughly even mix of Latinos — some of them Jews with Latin American origins — and “Anglo” Jews.

“There’s too much hate, too much separation against both Jews and Latinos,” Tarlow said. “This is a way we can come together and show we support each other.”

While Hanukkah is intended as an upbeat, celebratory holiday, rabbis note that it’s taking place this year amid continuing conflicts involving Israeli forces in the Middle East, and apprehension over widespread incidents of antisemitism.

Rabbi Moshe Hauer, executive vice president of the Orthodox Union, acknowledged that many Jews may be feeling anxious heading into Hanukkah this year. But he voiced confidence that most would maintain the key tradition: the lighting of candles on menorah candelabras and displaying where they’re visible through household windows and in public spaces.

“The posture of our community — without stridency, just with determination — is that the menorah should be in our windows, in a place where the public sees it,” Hauer said.

“It is less for us, the Jewish community, than for the world,” he added. “We have to share that light. Putting the menorah in the window is our expression of working to be a light among the nations.”

Hauer concurred with Stanton that this year’s overlap of Hanukkah and Christmas is “an exceptional opportunity to see and experience the diversity of America and the diversity of its communities of faith.”

Rabbi Motti Seligson, public relations director for the Hasidic movement Chabad-Lubavitch, noted that this year marks the 50th anniversary of a milestone in the public lightings of menorahs. It was on Dec. 8, 1974 — as part of an initiative launched by the Lubavitcher leader, Rabbi Menachem M. Schneerson — that a menorah was lit outside Philadelphia’s Independence Hall, where the Liberty Bell was housed at the time.

"Hanukkah is a celebration of religious liberty, so that it’s not taken for granted,” Seligson said. “One of the ways of doing that is by celebrating it publicly.”

He said Chabad was organizing about 15,000 public menorah lightings this year through its numerous branches around the world.

“There certainly is some apprehension,” Seligson said, referring to concerns about antisemitism and political friction. “Some people question whether Jews will be celebrating as openly as in the past.”

“What I’m hearing is there’s no way that we can’t,” he added. “The only way through these difficult times is by standing stronger and prouder and shining brighter than ever.”

Stanton concurred.

“Through our history, we’ve been through moments that are easy and moments that are hard,” he said. “Safety for us does not come from hiding. It comes from reaching out.”

Why is Hanukkah so late this year? The simple answer is that the Jewish calendar is based on lunar cycles, and is not in sync with the Gregorian calendar which sets Christmas on Dec. 25. Hanukkah always begins on the 25th day of the Jewish month of Kislev, a date which occurs between late November and late December on the Gregorian calendar.

The last time Hanukkah began on Christmas Day was in 2005. But the term “Chrismukkah” — signifying the overlap of the two holidays — had become a popular term before then. The term gained extra currency in 2003, when the character Seth Cohen on the TV drama “The O.C.” embraced the fusion holiday as a tribute to his Jewish father and Protestant mother.

This season, the Hallmark Channel introduced a new Christmas movie called “Leah’s Perfect Gift,” depicting a young Jewish woman who had admired Christmas from a distance, and gets a chance to experience it up close when her boyfriend invites her to spend the holidays with his family. Spoiler alert: All does not go smoothly.

Despite such storylines suggesting a fascination with Christmas among some Jews, Stanton says research by the Jewish Federations reveals a surge in Jews seeking deeper connections to their own traditions and community, as well as a surge in Jews volunteering for charitable activities during the holidays.

Associated Press religion coverage receives support through the AP’s collaboration with The Conversation US, with funding from Lilly Endowment Inc. The AP is solely responsible for this content.

Guests listen to speakers during a Chicanukah event at Holocaust Museum Houston on Thursday, December 19, 2024, in Houston. (AP Photo/Annie Mulligan)

Benjamin Warren hugs Harris County Judge Lina Hidalgo after she spoke during a Chicanukah event at Holocaust Museum Houston on Thursday, December 19, 2024, in Houston. (AP Photo/Annie Mulligan)

Attendees listen to speakers during a Chicanukah event at Holocaust Museum Houston on Thursday, December 19, 2024, in Houston. (AP Photo/Annie Mulligan)

Dr. Annette Goldberg dances with Sheldon Weisfeld during a Chicanukah mariachi performance at Holocaust Museum Houston on Thursday, December 19, 2024, in Houston. (AP Photo/Annie Mulligan)

Altagracia Vazquez performs with her daughter Ariana, 6, and Mariachi Palmeros during a Chicanukah event at Holocaust Museum Houston on Thursday, December 19, 2024, in Houston. (AP Photo/Annie Mulligan)

Guests add guacamole and pico de gallo to latkes during a Chicanukah event at Holocaust Museum Houston on Thursday, December 19, 2024, in Houston. (AP Photo/Annie Mulligan)

Guests enjoy a performance by Mariachi Palmeros during a Chicanukah event at Holocaust Museum Houston on Thursday, Dec. 19, 2024, in Houston. (AP Photo/Annie Mulligan)

Jacob Monty joins Rabbi Peter Tarlow at the podium during a Chicanukah event at Holocaust Museum Houston on Thursday, Dec. 19, 2024, in Houston. (AP Photo/Annie Mulligan)

Rabbi Peter Tarlow lights a candle on a menorah during a Chicanukah event at Holocaust Museum Houston on Thursday, Dec. 19, 2024, in Houston. (AP Photo/Annie Mulligan)

Harris County Judge Lina Hidalgo speaks during a Chicanukah event at Holocaust Museum Houston on Thursday, December 19, 2024, in Houston. (AP Photo/Annie Mulligan)