SGGPO
On May 28, Ho Chi Minh City Police initiated a case, prosecuting 9 defendants, including directors, department heads, division heads, and group leaders of Digital Credit Trading and Service Company Limited; Fincap VN Company Limited and Sofi Solutions Company Limited, for the crime of “Lending at high interest rates in civil transactions”.
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| Police searched the suspect's home and workplace. |
Previously, on May 26, hundreds of officers from the Ho Chi Minh City Police Department simultaneously inspected many locations of illegal credit activities disguised as businesses such as: Digital Credit Trading and Service Company Limited; Fincap VN Company Limited and Sofi Solutions Company Limited.
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Police searched and served decisions on subjects |
During the search, the police seized many evidences serving lending activities. The investigation determined that the above companies were hiding behind pawnshop and financial consulting services to operate high-interest lending activities through the websites tamo.vn and findo.vn.
From April 2019 to April 2023, through the above 2 websites, 3 companies disbursed more than 2 million loans, totaling more than 6,072 billion VND, illegally profiting more than 4,123.4 billion VND, with the lowest interest rate being 153.2%, the highest being 1,289.67%, from 7 times to 64 times higher than the highest interest rate prescribed in the Civil Code.
Ho Chi Minh City police said that after nearly a month of implementation, the police have discovered and verified hundreds of phone numbers related to financial lending activities with 50 suspects; prosecuted 3 cases with 17 defendants for crimes related to black credit; administratively sanctioned 43 cases of illegal advertising...
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