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Loan shark ring smashed in Bắc Ninh Province

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Police in the northern province of Bắc Ninh have cracked down on a loan shark ring following a two-month investigation, said Nguyễn Văn Long, director of the province’s police force.

Cash seized by Bắc Ninh Police from a branch of Đại An Investment Consulting Ltd. Co. — Photo dantri.com.vn


Under the direction of the Ministry of Public Security, the provincial police have co-ordinated with district-level authorities in the fight against credit-related crime.

The initial investigation indicated Đại An Investment Consulting Ltd Co specialised in offering loans with extremely high interest rates.

The provincial police have decided to set up a special task force to cope with the case.

After two months of investigations, about 100 police officers stormed into the offices of 15 branches of the company at industrial parks in Quế Võ, Yên Phong and Tiên Du districts on Wednesday.

Some 2,680 documents relating to illegal loan shark activities including personal identification papers, motorcycle registrations, certificates and ATM cards were confiscated, along with some VNĐ524 million in cash, 30 motorbikes and 9 computers.

The police have summoned a number of suspects to clarify the criminal operations of the company.

Suspects have told police Đại An Investment consulting Ltd Co was led by Trần Đình Quảng, 30, who resides in Nam Định Province’s Hải Hậu District.

Quảng set up 16 branches in industrial parks with the purpose of providing financial services for workers with interest rates higher than 180 per cent per year.

By the time it was discovered, the ring of criminals had preyed on over 2681 people, with transactions totaling more than VNĐ6 billion (roughly US$258,000).

When a debtor failed to repay in time, the collectors would seize assets worth more than the amount due.

Further investigation is underway.


Source: VNS

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