Arrest of loan shark, embezzlement of nearly 8 billion VND

In addition to the amount of money he appropriated from people up to 3 billion VND, Ho Loan A Li O (born in 1969, residing in E Nhuon commune, Buon Don district, Dak Lak) also defrauded 7 other people with a total amount of 4.8 billion VND.

On the afternoon of December 10, Dak Lak Provincial Police announced that the Criminal Police Department of the provincial police had just arrested Ho Loan A Li O (born in 1969, residing in E Nhuon commune, Buon Don district, Dak Lak) to continue to expand the investigation into the act of "Fraudulent appropriation of property" of local people of nearly 8 billion VND.

According to the initial investigation, since 2016, knowing that local people had reached the bank's maturity date but had no money, Ho Loan took advantage of the people by saying that Loan would help but charged an interest rate of 3 to 4 thousand VND/1 million/1 day.

Subject Ho Loan confessed at the police station

To have money to help households pay off bank loans and get the interest rate difference, Ho Loan borrowed from many other households in E Nhuon commune with lower interest rates to get the difference. However, because some households still had bad debts, the bank did not disburse the loans again.

To have money to lend to households, Ho Loan borrowed over 3 billion VND from Ms. Tran Thi Minh (living in the same locality) with an interest rate of 2,000 VND/1 million/1 day and then appropriated it.

At the police station, Ho Loan confessed that in addition to the above 3 billion VND, he also defrauded 7 other people with a total amount of over 4.8 billion VND.

According to congan.vn