Property developer Truong My Lan was found guilty in April 2024 of stealing money from Saigon Commercial Bank (SCB) and sentenced to death for fraud amounting to $27 billion.
Now she is appealing against the verdict from a second trial in October, in which she was sentenced to life in prison for three crimes.
Her niece, who was handed a five-year prison term in October for fraudulent appropriation of property, sat behind her, flanked by officers.
The appeal will last until April 21 and Lan will be defended by eight lawyers, according to state media.
She was also found guilty of bond fraud to the tune of $1.2 billion.
Thirty-three other defendants were also sentenced at the court in Ho Chi Minh City and given terms ranging from two to 23 years in prison.
During her first trial in April, Lan was found guilty of embezzling $12.5 billion but prosecutors said the total damages caused by the scam totalled $27 billion -- equivalent to around six percent of the country's 2023 GDP.
Tens of thousands of people who had invested their savings in the bank lost money, shocking the communist nation and prompting rare protests from the victims.
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