Danh was arrested and detained by Ho Chi Minh City police on 1/9 for loan sharking.
Investigators consider Danh’s use of flyers falsely bearing the police logo a new tactic that damages the force's reputation and lures unsuspecting individuals into predatory lending traps.
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Pham Van Danh at the police station. Photo: Police provided |
Pham Van Danh at the police station. Photo: Police provided
Previously, Ho Chi Minh City police launched a campaign to remove illegal advertising signs and flyers across many streets and residential areas. They collected numerous phone numbers printed on advertisements for loans and septic tank services, while encouraging citizens to report suspicious activities.
In Ba Ria ward (formerly Vung Tau), acting on a tip, police caught someone distributing illegal loan flyers. This led the Criminal Police Department (PC02) to investigate and arrest Danh.
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Loan shark advertisements featuring a fake police warning. Photo: Police provided |
Loan shark advertisements featuring a fake police warning. Photo: Police provided
The investigation revealed Danh operated a loan sharking business in the former Vung Tau City, charging a minimum interest rate of 0.83% per day (over 360% annually), illegally profiting hundreds of millions of dong.
A search of Danh’s residence on Nguyen Huu Canh Street, Rach Dua ward, Ho Chi Minh City, uncovered numerous loan flyers. Nguyen Dai Duong, 36, was also found at the residence and tested positive for methamphetamine. He was handed over to local police.
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The loan flyers. Photo: Police provided |
The loan flyers. Photo: Police provided
Ho Chi Minh City police advise the public to be wary of quick loan advertisements, even those displaying the police logo or name. They urge people to report any instances of illegal advertising to the police or local authorities.
Nhat Vy
