Hundreds of households in dire straits after billions of dong savings and credit association collapses
Ha Tinh Provincial Police are investigating the case of hundreds of people in Ky Anh District who were accused of being tricked by a woman into contributing capital, taking high interest rates, and then defaulting on tens of billions of dong in debt.
On the morning of July 4, the leader of Ha Tinh Provincial Police said that the unit is investigating the complaint of hundreds of people in Ky Anh district about being scammed by Ms. Hoang Thi Thao (born in 1988, residing in Ky Anh district) in the form of a disguised hui contribution with an amount of up to tens of billions of VND.
"Currently, the police are collecting documents and clarifying the people's complaint, including criminal and civil parts," said the provincial police leader.
According to the report, since 2018, due to acquaintances while trading at Voi market (Ky Anh district), Ms. Thao has repeatedly raised the issue of mobilizing hundreds of small traders to participate in the "hui" chains owned by her with a commitment to pay the principal and interest fairly.
When attracting hundreds of participants, Ms. Thao set up many hui chains, each chain had 10 people, the participants had to contribute at least 100,000 VND/day. The monthly interest rate paid to the participants was decided by Thao. The contribution period was within 10 months, the hui was opened once a month.
Ms. TTH (born in 1986, residing in Ky Phong commune) said that from 2018 until now, believing Thao's invitation, she has participated in the hui chains with an amount of more than 1 billion VND. However, up to now, she has not been able to recover it because Thao has declared bankruptcy.
Mr. VAQ (Ky Bac commune, Ky Anh district) said: “When the 10-month hui contribution period ended, we asked to pay the hui money, Thao used sweet words to persuade us to continue participating or to lend Thao the hui money. Trusting Thao, we did not take the money back but continued to participate in other hui chains or to lend Thao the money again.
In early 2021, many people contacted Thao to withdraw their hui or asked Thao to pay back the borrowed money, but Thao promised again and again and then declared bankruptcy, not paying the participants as initially committed," said Mr. VAQ.
Receiving the information, Colonel Nguyen Hong Phong was present in Ky Anh district, listened to the opinions and evidence provided by the people, and directed relevant units to investigate.