The owner of a black credit line in Quynh Luu posts debt collection notices around the house if the debtor is late in paying.
(Baonghean.vn)- Nguyen Van Cao lent money to many people at sky-high interest rates. When the debtors were unable to pay, Cao printed debt collection papers with the borrower's photo and posted them around the house.
Quynh Luu District Police are temporarily detaining Nguyen Van Cao, born in 1976, residing in Truong Thinh Hamlet, Quynh Thuan Commune, to investigate crimes related to usury.
Through the work of grasping the situation related to activities in the field of pawnshops and financial services in Quynh Luu district, criminal investigators of Quynh Luu district police collected information and documents reflecting that Cao was the owner of the establishment.pawn“Van Cao”, with an address in Truong Thinh hamlet, Quynh Thuan commune, Quynh Luu district, has signs of suspected criminal activity of lending at high interest rates in civil transactions.
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| Subject Nguyen Van Cao at the police station. Photo: Duc Vu |
During the verification process, considering that the suspect had a complex crime, sophisticated methods and tricks, it was necessary to synchronously deploy measures, tactics, professional means, and coordinate forces to focus on the fight, on September 1, 2020, Quynh Luu District Police established a special project to fight.
On September 13, 2020, Quynh Luu District Police successfully broke the case and arrested Nguyen Van Cao for his behavior.loan sharkIn civil transactions, temporarily detained 01 ATM card, 01 car, 12 motorbikes, 26 mobile phones and 1,152,000,000 VND in cash.
Through the investigation, it was initially clarified that Nguyen Van Cao lent money to many people with interest rates from 3,000 VND to 5,000 VND/1 million/day (equivalent to 110% to 183%/year), the loan amount was more than 2.5 billion VND, the amount of money the subject illegally profited was 151 million VND.
Nguyen Van Cao accepted many types of documents as collateral such as: Land use right certificates, ID cards, driver's licenses, vehicle registration papers, marriage certificates... to lend at high interest rates, the loan amount was deducted from the first month's interest by the subject.
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| Cash and many documents seized from Nguyen Van Cao. Photo: Duc Vu |
It is known that Nguyen Van Cao also lent money to many people on credit (no assets required). The more people borrowed and the more they knew, the lower the interest rate, but it was always above 110%/year. When the borrowers were unable to pay, Nguyen Van Cao printed a debt collection note with the borrower's photo and posted it around the debtor's house, in order to put pressure on the borrowers to pay.
