The 68-year-old was found guilty of laundering US$17.7 billion and illegal cross-border trafficking of US$4.5 billion.
She was also found guilty of bond fraud to the tune of US$1.2 billion.
During the appeal, prosecutors called for a reduced sentence for Lan, citing her repayment of one quarter of the money she defrauded from thousands of bond investors.
In October, the court had determined that Lan was “the mastermind, committed the crime with sophisticated methods, many times, causing especially serious consequences”.
Another 33 defendants were also sentenced during Lan’s October trial and were given jail terms ranging from two to 23 years. State media said 27 of them were appealing their sentences.
During her first trial in April 2024, Lan was found guilty of embezzling US$12.5 billion but prosecutors said the damages caused by the scam totalled US$27 billion – equivalent to around 6 per cent of the country’s 2023 GDP.
Lan owned just 5 per cent of shares in SCB on paper but the court concluded that she effectively controlled more than 90 per cent through family, friends and staff.
Tens of thousands of people who had invested their savings in the bank lost money, prompting rare protests in the communist nation.
