Dismantling a loan shark ring run by foreigners
More than 250 police officers simultaneously raided nine locations, dismantling a large-scale inter-provincial loan sharking ring led by a Chinese man.
On January 13, Da Nang City Police said that they had just coordinated with the Criminal Police Department (Ministry of Public Security) and related units to destroy a large-scale loan sharking ring led by foreigners.
Previously, the Criminal Police Department of Da Nang City Police discovered many people borrowing money through apps with interest rates of over 500%/year. The Investigation Police Department of Da Nang City Police has established a special project to focus on the investigation.
However, after determining that this was a large-scale network operating in many localities nationwide, Da Nang City Police reported to the Ministry of Public Security.
After an investigation period, on the morning of January 11, 2024, more than 250 officers and soldiers from units under the Da Nang City Police, the Criminal Police Department, the 29th Mobile Regiment of the Ministry of Public Security in Ho Chi Minh City, Ho Chi Minh City Police, and Binh Duong Provincial Police simultaneously raided 9 locations in the loan sharking ring.
Authorities have arrested the leader of this ring, Wang YunTao (36 years old, Chinese nationality) and related subjects.
The total number of subjects arrested in Ho Chi Minh City is 154 people, in Binh Duong is 39 people. By January 13, all subjects were extradited to Da Nang to serve the investigation.
In addition, the police seized 247 computers of various types, 177 mobile phones, 8 motorbikes, more than 180 million VND in cash, froze tens of billions of VND in bank accounts and many other exhibits related to the loan sharking ring.
Through investigation, the police determined that Wang YunTao and a Chinese person hired people to set up dozens of companies with many different business lines. In fact, these companies were all used as fronts for loan sharking activities.
When borrowers do not pay interest on time, the subjects use photo collages, text messages, and phone calls to threaten and terrorize the debtors and their relatives.