According to the accusation, Li Zhao Qiang (born 1988, Chinese nationality) entered Vietnam in 2017, and shortly thereafter built a loan sharking and debt collection network in a mafia-style manner, operating in an extremely sophisticated and methodical manner.

This “boss” was identified as the mastermind, leader, and creator of the apps “Cash VN”, “Vaynhanhpro”, “Ovay” to lend money to Vietnamese customers at high interest rates, from 1,570% - 2,190%/year. When the “debtors” failed to pay, Li Zhao Qiang directed other subjects to carry out terrifying debt collection tactics.

The investigation agency determined that from 2019 to 2022, "boss" Li Zhao Qiang operated companies, lending through apps to a total of 120,780 customers with an amount of more than 1,607 billion VND, illegally profiting about more than 732 billion VND.

There were 31 "debtors" who became victims in the case when they were extorted from property by Li Zhao Qiang's debt collection department staff with a total amount of more than 218 million VND.

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Illustration photo.

Under Li Zhao Qiang is Zhang Min Min (born in 1986, Chinese nationality). This person is assigned to directly manage and direct the debt collection and collection department at Li Zhao Qiang's companies. Zhang Min assigned Nghiem Duc Giang to be in charge of the debt collection department.

According to the accusation, debtors are divided into 5 different levels, the debt collection team will call customers to remind them to pay their debts on time. If they do not pay their debts on time, the group managed by Zhang Min will call to gradually increase the number of times to remind them to pay their debts; call relatives and acquaintances of the customers.

If the customer continues to not pay, Zhang Min's group will call to threaten, curse at the customer, cut and paste photos and send them to the customer and their relatives, forcing the "debtor" to pay.

Gangster debt collection training

Bui Duc Hoang was assigned by Nghiem Duc Giang to manage a group of debt collectors. Hoang started working at Metag Company in 2019. Right from the start, Hoang was trained by Giang in debt collection techniques. Accordingly, if a customer refused to pay the debt, Hoang would cut and paste the image and send it to the customer to threaten them.

If the customer still does not pay, the images will be sent to the customer's relatives or posted on social networks to force the "debtor" to pay.

During his work, Hoang was assigned to collect debts from a group of customers coded as M2, app “Cash VN”. In addition, the defendant was assigned to be in charge of a team of 5 employees.

As the head of the debt collection team, Hoang's task is to manage employees, take attendance, remind everyone of their work, remind them of their work ethic, urge them to make debt collection calls, gradually increase the level of debt collection, from reminders to cursing, threatening, and mentally terrorizing borrowers.

In addition, Hoang uses the company-assigned computer every day to log into the company's customer data system. Here, there is full customer information, debt due dates, etc.

In case the customer does not pay the debt when due, Hoang will send messages cursing, threatening, and send images of the customer combined with sensitive images to pressure them to pay the debt.

Investigation results show that from 2019 to May 24, 2022, Bui Duc Hoang helped Li Zhao Qiang, Zhang Min and Nghiem Duc Giang organize lending activities through the app "Cash VN" with a total amount of more than 1,229 billion VND, illegally profiting about more than 547 billion VND.

Regarding the act of extortion that Hoang was accused of, the investigation documents indicate that in 2022, Hoang directly called to collect debt, then cut and edited obscene photos and sent them to Mr. T. to threaten and force him to pay 8 million VND.

The allegation is that many Vietnamese defendants were paid to do the same job as Hoang. The investigation determined that from 2021 to 2022, Zhang Min organized and directed a group of debt collection employees working at companies established by Li Zhao Qiang to lend money through the apps "Cash VN" and "Vaynhanh" with a total amount of more than 1,106 billion VND, illegally profiting more than 623 billion VND.

There is evidence to suggest that this Chinese man committed the crime of Extortion as the mastermind, with a total extortion amount of more than 218 million VND from 31 people caused by debt collection department employees.

The trial of a loan sharking, debt collection and tax evasion ring led by “boss” Li Zhao Qiang (born 1988, Chinese nationality) was held on June 25 but had to be postponed due to the absence of 10 out of 135 defendants.