Law

Quang Nam police search foreign company, investigating loan-sharking

SGGP Tuesday, November 22, 2022 19:59

Quang Nam Provincial Police have searched the headquarters of Mirae Asset Company in Quang Nam, seized many documents, and are taking testimonies from 150 employees due to reports that this company has engaged in loan-sharking.

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Quang Nam police search the headquarters of Mirae Asset in Tam Ky City. (Photo: SGGP)

Colonel Nguyen Thanh Long, Deputy Director of Quang Nam Provincial Police, on November 22, informed that the force had searched Mirae Asset Finance Company Limited, located at Nguyen Van Troi Street in Tam Ky City of Quang Nam Province.

According to initial information from the reports of local people and findings, the Quang Nam Provincial Police conducted a search at Mirae Asset Company at noon on November 21. The search warrant was made because this company was related to a report of loan sharking.

Through the search, the police seized many documents and continued to fight, take statements, and classify 150 people as employees of the company.

Previously, units of the Ho Chi Minh City Police Department, on November 4, administratively inspected the office of Mirae Asset Finance Company Limited, located at Building H3 in Hoang Dieu Street in Ward 6 of District 4.

During the investigation, the police determined that Mirae Asset Vietnam Finance Company Limited is a foreign company headquartered in Vietnam in District 1, HCMC, led by L.J., a Korean national, as General Director. This company is licensed by the State Bank of Vietnam, with lending functions, including installment and consumer loans. Since August 1, 2016, the company has rented an office on the fourth floor of the H3 Building at No.384 Hoang Dieu Street in Ward 6 of District 4 for debt collection activities.

Borrowers must provide personal information and information about relatives when signing a loan contract with the company. Borrowers must pay interest rates from 4.58 percent per month, equivalent to 55 percent per annum, in the form of monthly installments.

When it is time for repayment, the debt collection department will divide customers according to the debt duration.

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HCMC police search the office of Mirae Asset in HCMC. (Photo: SGGP)

If the debt is from 1 to 89 days, the staff will use software to call and remind customers and relatives gently. If the debt is from 90 to 179 days, they also use the software but often call, text, and constantly remind customers or relatives to repay debt. If the debt is more than 180 days, they will use phones and social media accounts to call, text, curse, threaten or crop images of borrowers and relatives to add to the funeral obituaries, sexual images, notices to track down debt evaders, and fraud warnings. The images are sent to customers, relatives, friends, and colleagues of borrowers via social networks to create pressure on borrowers to force them to repay debt. The investigation agency prosecuted the accused and executed a temporary detention order against 13 people for the crime of slander, according to Article No.156 of the Penal Code.

By Nguyen Cuong – Translated by Da Nguyet

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