Caught!! Group of High Interest Lenders Specializing in Tracking Borrowers Captured

Lender with heavy interest, attaching tracking devices and threatening borrowers before they can repay. The actions of the ringleader Lương Hoàng Nhật Nam and his accomplices have been uncovered and apprehended by the police.

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On January 27, the Cybersecurity and High-Tech Crime Prevention Department of the Thua Thien – Hue Provincial Police coordinated with the Criminal Police Department and other specialized units to successfully uncover a case of high-interest lending involving a loan amount of up to 35 billion dong.

The police have arrested the leaders of the lending network, Luong Hoang Nhat Nam (born in 1996, residing in Vy Da Ward, Hue City) and Huynh Van Truong Phat (born in 1996, residing in Thuan Hoa Ward, Hue City).

The leader of the high-interest lending network, Luong Hoang Nhat Nam, has been arrested. Photo: CACC

At the two locations where the lending network operated, on Provincial Road 10, Phu Thuong Ward, and on Dien Bien Phu Street, Truong An Ward (Hue City), the police discovered and seized 1 car, 39 computers, phones, various types of cameras, multiple bank accounts, SIM cards, 2 GPS tracking devices, and several related documents regarding the lending activities.

The leader of the high-interest lending network, Luong Hoang Nhat Nam, has been arrested. Photo: CACC

According to the initial investigation, since 2020, the two suspects, Nam and Phat, have been advertising their lending activities on the social media platform Facebook to lure potential borrowers. The content of their posts often promises low interest rates, fast loan disbursement without appraisal, loans with maximum limits, support for bad debts, with interest rates ranging from 3,000 dong to 11,500 dong per million dong per day, equivalent to annual interest rates of 109.5% to 419.75%.

In order to carry out their lending activities, the suspects used the Mecash software to manage loan contracts, calculate interest rates, and send payment reminders. Nam and Phat also divided the interest rates into multiple fees through two contracts to avoid detection by authorities.

Furthermore, during the lending process, if the borrowers failed to repay their loans on time, the suspects would hire individuals to threaten, track the location of their vehicles, and even go to their homes to apply pressure and demand repayment.

From 2020 until the time of their arrest, the suspects had created over 2,000 loan contracts with a total lending amount of up to 35 billion dong, profiting illegally over 7 billion dong.

Quang Nhat

SOURCEvietstock
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