Post by : Shakul

Authorities in Ho Chi Minh City have dismantled a large illegal debt collection network accused of operating under the disguise of a “debt trading” business to intimidate and extort citizens. The Criminal Police Department under the Ho Chi Minh City Police Investigation Agency confirmed that the operation targeted an organized group allegedly involved in gangster-style debt recovery activities across the city.

Police identified Vu Hoang Long, born in 1984, as the alleged leader of the network. Investigators said Long established Song Long Debt Trading and Investment Joint Stock Company in 2020 after previous debt collection services became illegal under Vietnamese law. Authorities believe the company continued illegal collection operations by using fake debt trading contracts as a cover.

According to investigators, the organization operated with a highly structured system including legal teams, debt collection groups, customer service staff, accountants, and technical departments. Internal software was reportedly used to monitor debt collection activities, customer information, operational instructions, and progress reports related to each case.

Police stated that the so-called debt purchase agreements were only designed to legitimize aggressive debt recovery operations. Instead of genuinely purchasing debts, the company allegedly collected money on behalf of clients and kept commission fees ranging from 25 percent to 55 percent. Clients were also reportedly charged expensive non-refundable file assessment fees even if debts could not be recovered.

Authorities said debtors were frequently intimidated through organized harassment campaigns. Groups of tattooed men wearing company uniforms allegedly traveled in branded vehicles to homes, businesses, and workplaces of debtors. Investigators said these individuals gathered in large numbers, loudly demanded payments, followed victims for days, and disrupted public order to create psychological pressure.

One major case involved Anh Dung Multi-Specialty Clinic in Ho Chi Minh City, where the debt collection group allegedly pressured the clinic owner over a financial dispute worth more than 5 billion Vietnamese dong. Investigators said the suspects repeatedly surrounded the clinic, blocked customers, and attempted to damage the business reputation in order to force repayment agreements.

In another case, a businesswoman identified as KTKO reportedly faced similar intimidation tactics after the group repeatedly appeared outside her warehouse and residence. Authorities said the suspects threatened to continue following her movements until the debt was repaid, creating fear and serious disruption to her personal and professional life.

During emergency raids, police seized computers, accounting records, contracts, legal documents, vehicles used during collection activities, and nearly 200 million Vietnamese dong in cash. Authorities have officially launched criminal proceedings and temporarily detained 17 suspects on charges related to extortion while several others remain under investigation.

Ho Chi Minh City Police warned citizens to resolve financial disputes through legal channels such as mediation, civil courts, or enforcement agencies instead of hiring illegal debt collection groups. Officials stressed that any organization using intimidation, harassment, or coercion under the cover of business operations will face strict punishment under Vietnamese law.

#Crime #Vietnam #Law #World News