On January 13, the Da Nang City Police reported their successful joint operation with the Criminal Police Department under the Ministry of Public Security and relevant units in dismantling a loan-sharking and property extortion syndicate led by Wang YunTao, born in 1988, Chinese nationality. The authorities apprehended the ringleader and 192 other individuals connected to the illicit activities.
Before this crackdown, the Da Nang City Criminal Police had uncovered some individuals resorting to online borrowing through various apps, with interest rates of up to over 500 percent per annum.
When borrowers fell behind on interest payments, the perpetrators went to the extent of compiling images, sending threatening messages, and making phone calls to intimidate and psychologically terrorize both the debtors and their family members.
Acknowledging the extensive scale of this network, operating across various locations nationwide, investigative authorities have initiated a specific case to counter these activities and expeditiously reported the issue to the Ministry of Public Security.
At 9:30 a.m. on January 11, the Ministry of Public Security deployed hundreds of officers from various units, including the Da Nang Police, the Criminal Police Department, and the 29th Mobile Police Battalion of the Ministry of Public Security in Ho Chi Minh City, in cooperation with criminal police forces of Ho Chi Minh City and Binh Duong Province to conduct synchronized raids on nine locations where the suspects were operating in these two localities.
Law enforcement authorities have apprehended the mastermind, Wang YunTao, along with all individuals associated with this criminal network.
As per the investigative agency, 154 individuals were detained in Ho Chi Minh City, and 39 were arrested in Binh Duong Province. On January 13, these suspects were transferred to Da Nang City for further investigative proceedings.
In the initial stages, the investigative authorities have determined that Wang YunTao, along with another individual from China, engaged Vietnamese individuals to establish numerous companies spanning various business sectors. However, these companies, in reality, served as a front for conducting usurious lending operations.
During the search at the suspects' residences, law enforcement seized 247 computers, 177 mobile phones, eight motorcycles, and over VND180 million in cash and froze tens of billions of Vietnamese dong in bank accounts, along with various other relevant items.
The case is undergoing further investigation and will be processed in accordance with legal regulations.
