{
  "id": 14614661,
  "title": "Death row tycoon Truong My Lan’s yacht auction price cut by 44%",
  "url": "https://urgent.news/2026/10/15/death-row-tycoon-truong-my-lans-yacht-auction-price-cut-by-44",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-15T04:59:00.000Z",
  "source": {
    "name": "VnExpress Business",
    "slug": "vnexpress-business",
    "url": "https://e.vnexpress.net/news/business/companies/death-row-tycoon-truong-my-lan-s-yacht-auction-price-cut-by-44-5132532.html"
  },
  "original_language": "en",
  "account": "Truong My Lan, the notorious tycoon and chairwoman of Van Thinh Phat, has seen a significant reduction in the price of her yacht, which is set to be auctioned on October 28th at the HCMC Asset Auction Service Center. The starting price of VND29.2 billion (US$1.13 billion) has been cut by 44% after six unsuccessful offerings. Bidders are required to pay a deposit of at least VND5.84 billion (20% of the starting price). The luxurious yacht, built in France in 2018 and currently docked at Tam Son Swan Bay Marina in Dong Nai Province, was seized by authorities in late 2023. Lan, who is fighting for its return, had initially requested it be returned during her appeal trial in 2024. Two other passenger vessels, Thalia and Electra, belonging to Lan are also up for auction for the seventh time. Their starting prices have dropped by more than 45% to approximately VND2.3 billion each. In 2024, Lan and her associates were convicted of embezzling Saigon Commercial Bank, resulting in a loss of VND677 trillion ($27 billion) over a decade. She was sentenced to death, a verdict upheld by the appeals court last year. As part of an investigation into Lan's company, Van Thinh Phat, over 1,200 properties and numerous assets directly linked to her were seized. During the trial, Lan attempted unsuccessfully to reclaim several assets, including the yacht and two Hermes brand bags.",
  "summary": "The Reverie Saigon yacht of Truong My Lan, the property tycoon who is in death row for embezzlement, will go on auction for the seventh time with reserve price cut 44% from the original starting price.",
  "key_points": [
    "Truong My Lan's yacht auction price cut by 44% to VND29.2 billion.",
    "Lan fighting for yacht return during 2024 appeal trial.",
    "Two other Lan-owned passenger vessels up for auction at 45% discount."
  ],
  "editors_take": "Repeatedly slashing auction prices for seized luxury assets signals the difficulty authorities face in liquidating the massive holdings of the convicted tycoon to recover embezzled funds.",
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}