New Information on a 9,000 Billion Dong High-Interest Loan Scheme

Major General Vu Xuan Vien, the Director of Danang City Police, recently shared his insights on the process of dismantling a criminal network involved in a massive loan shark operation worth 9 trillion VND.

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According to Lieutenant General Vu Xuan Vien, through investigation and monitoring, the Da Nang City Police discovered 3 large-scale loan applications that charged high interest rates and directly reported them to the Ministry of Public Security.

Lieutenant General Vu Xuan Vien, Director of the Da Nang City Police, provides information about the case

The Ministry of Public Security has directed the Criminal Police Department and local police forces to get involved. General Vien also stated that this large-scale loan scheme has provided loans to about 1.3 million people with over 2 million borrowing occasions.

More than 10 companies publicly recruited people to work for the scheme. The total number of arrested individuals is 193, including 2 foreign ringleaders.

In Da Nang, the suspects rented high-rise buildings in the city center as their headquarters.

The rented high-rise buildings had an intelligent access control system installed, utilizing key cards, so that outsiders could not enter.

Hundreds of individuals involved in the high-interest loan scheme were transferred to Da Nang for investigation

Due to the large scale of this criminal operation, the leadership of the Ministry of Public Security and the Criminal Police Department personally directed the simultaneous raids conducted by the forces at locations in Ho Chi Minh City, Binh Duong, Da Nang, etc.

“After giving the command, the police forces stormed in, and the suspects only knew about it when we reached their rooms. This proves the excellent tactics of the police forces. They arrested people on the spot and seized all the documents. After classifying them, we have prosecuted 27 of those suspects,” Lieutenant General Vu Xuan Vien stated.

According to the Director of the Da Nang City Police, this loan scheme had a total lending amount of 9,000 billion VND from the end of 2022 to the end of 2023, but the individuals involved profited 2,500 billion VND.

In relation to this case, on January 23rd, Lieutenant General Nguyen Duy Ngoc, Deputy Minister of Public Security, sent a commendation letter to the Da Nang City Police for their achievements in busting this criminal operation.

Alongside recognizing these accomplishments, Lieutenant General Nguyen Duy Ngoc also requested the Da Nang City Police to continue expanding the investigation, urgently consolidate the case files and evidence, and strictly handle the individuals involved as dictated by the law.

As reported, the Criminal Police Division of the Da Nang City Police had obtained information about some people borrowing money online through large-scale applications with interest rates of over 500% per year. In November 2022, the Da Nang City Police initiated a plan to eradicate this criminal operation.

On January 11th, the Criminal Police Division of the Da Nang City Police and the Criminal Police Department (Ministry of Public Security), with the cooperation and support of several units, mobilized over 250 officers to search 9 locations in Ho Chi Minh City and Binh Duong.

As a result, hundreds of individuals involved in this high-interest loan scheme, which was led by Wang Yun Tao (born in 1988, Chinese nationality), were arrested on the spot.

SOURCEcafef
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