Through the process of clarifying the leading role, on June 17, the Ho Chi Minh City Police Department decided to prosecute and temporarily detain Aigars Plivčs to investigate the act of usury in civil transactions.
Police searched the residences of loan shark suspects.
According to the police investigation agency, loan sharking companies disguised as foreign-led businesses are very difficult to handle because of their sophisticated tricks and remote operations. In order to collect documents and evidence related to these companies, the police investigation agency encounters many difficulties, especially in determining their actual locations of operation.
The dismantling of the loan sharking ring of boss Aigars Plivčs is an achievement of the Criminal Police Department (PC02) and District 10 Police (Ho Chi Minh City Police) in preventing and repelling illegal credit-related activities that have caused public outrage in recent times, contributing to maintaining security and order in Ho Chi Minh City.
ESTABLISHING A TRANSNATIONAL CENTIFIED LEGS
During the investigation, Ho Chi Minh City Police have clarified the sophisticated tricks of the ring led by boss Aigars Plivčs. Specifically, the websites tamo.vn and findo.vn were established by Sun Finance Group (headquartered in Latvia), through 3 legal entities: Sofi Solutions, Digital Credit and Fincap VN to operate consumer lending in Vietnam. Of which, Digital Credit Company and Fincap VN Company registered to do pawn services, while Sofi Solutions Company operated in the field of consumer lending even though it was not licensed.
Police read the arrest warrant for Aigars Plivčs to investigate loan sharking
The Investigation Police Agency added that although they are independent legal entities and have different business headquarters, they use the same operating system including human resources, accounting, customer care, debt collection, and advertising; the registered headquarters are in District 10 and District 3, but in reality, these 3 companies operate in the same building on Phan Ton Street (District 1). The defendant Aigars Plivčs is the person behind the operation of the loan sharking activities of the 3 companies through the above 2 websites.
From the beginning of March 2023 until the day this loan sharking ring was shut down, Ho Chi Minh City Police deployed forces to eliminate many illegal credit gangs in Ho Chi Minh City, so all employees of the above 3 companies were instructed by boss Aigars Plivčs to bring company-issued computers home to work. The devices had pre-installed software, applications, and multiple layers of security.
"The subjects in the ring said they were instructed that if the police checked, the manager would delete all data on the computer," said a source of Thanh Nien reporter.
Investigation records show that tamo.vn and findo.vn are electronic consumer finance lending websites with pre-installed programming. When in need of a loan, customers only need to log in, fill in their full name, phone number, email address, monthly income, monthly expenses, ID card/CCCD number, account number, CCCD image, front image of themselves and the system will automatically process the loan without having to directly contact any staff of the lending party. Customers can view their loan information by logging in to tamo.vn, findo.vn or through the "tamo" and "findo" applications on their phones.
EXPOSE THE BOSS'S TRICKS
At the police station, Aigars Plivčs confessed that he was an employee of Sun Finance Group headquartered in Latvia, which manages all lending activities through the two websites tamo.vn and findo.vn. Although he is not the legal representative, Aigars Plivčs is the executive director of all activities such as lending, debt collection, cost management, and human resources through department heads and division heads of the three companies. Aigars Plivčs also has a 2% stake in Sofi Solutions Company.
Defendant Aigars Plivčs admitted that he knew that the interest rates of the loans were higher than the legal regulations, but still agreed to organize usury activities. These companies were all directed by Aigars Plivčs to carry out usury in civil transactions. Accordingly, the exorbitant interest rates of these companies were at least 401.5%/year, and at most 1,379.7%/year, 20 - 68 times higher than the highest interest rate allowed under the provisions of the Civil Code.
According to District 10 Police, from April 2019 to now, 3 companies have disbursed more than 2 million loans, totaling more than 6,000 billion VND, earning more than 4,100 billion VND. District 10 Police also worked with 29 borrowers and determined that the total illegal profits that the district police have proven for the lenders is 780 million VND.
The defendants such as Nguyen Thi Tuyet Suong (55 years old, residing in District 10, Director of Digital Credit Company), Truong Tuan Tai (32 years old, residing in District 6, Director of Fincap VN Company) and many employees are responsible for deploying the network in Vietnam with a structure consisting of many specifically assigned departments. In addition to the director, department heads and managers, department heads, recruitment, training, advertising and customer search teams. The subordinates specialize in consulting and guiding borrowers on how to operate on the website and application, and at the same time appraising, checking, verifying information and reminding them of debts.
The contracts will be circumvented and legalized by showing that the customer is pawning a mobile phone or a car, then renting the very thing they just pawned. Along with this fake contract, the borrower will have to pay many fees such as "property rental fee", "verification"... The minimum amount of money that the customer can borrow each time is 500,000 VND, maximum 20 million VND. When the due date comes, the borrower who cannot pay can extend the debt for another 5 days, 10 days, 15 days..., maximum not exceeding 30 days but must pay an extremely high extension fee.
According to the investigation police, the reason borrowers accept "exorbitant" interest rates is that many borrowers borrow small amounts, from 500,000 VND to 20 million VND, with short loan terms from one week to one month.
Regarding this line, up to now, in addition to the defendant Aigars Plivčs prosecuted and temporarily detained by Ho Chi Minh City Police; District 10 Police have initiated a case, prosecuted 9 defendants who are directors, department heads, section heads, and group leaders of 3 companies: Digital Credit, Fincap VN, and Sofi Solutions to investigate the act of usury in civil transactions.
CONTINUOUSLY EXPOSE MANY BLACK CREDIT LINES
Previously, on May 29, PC02 of Ho Chi Minh City Police dismantled a debt collection terrorist ring led by Chinese people. At the same time, it initiated criminal proceedings, prosecuted and temporarily detained 11 defendants, who are directors and group leaders of Tieng Noi Hay Company, Golden Company, and Bamboo Company, which operate dozens of financial lending applications, for the act of extortion.
Accordingly, if the borrower does not pay, this group will send messages and threaten to combine photos of the borrower's wife and children to post on prostitution websites, combine photos of the deceased to post on social networks, and stick them on electric poles...
Ho Chi Minh City Police have also arrested 5 suspects: Phan Van Tai, Phan Van Trong, Phung Van Minh, Mac Buu Duc, Nguyen Quang Tinh (all residing in Hanoi) to investigate the act of usury. This is a group of usury lenders with interest rates from 240 - 695%/year. Urgently searching the residence of this group, Ho Chi Minh City Police seized more than 170 kg of leaflets, 35 kg of business cards advertising illegal lending.
At the end of April 2023, Binh Thanh District Police decided to prosecute 22 defendants who are directors, department heads, team leaders, employees... of the following companies: Phuc Loc Tho LLC, Bao Tin Kim Long, Gofigo, Infobot, Solution Lab, Infinity (all with offices on floors 7, 8, 11 of building 102 Nguyen Xi, Ward 26, Binh Thanh District) for lending at high interest rates, illegally profiting hundreds of millions of dong.
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