Ha Noi police urged to hunt down savings fund fraudsters

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VietnamNet English - 38 month(s) ago 6 readings

Ha Noi police urged to hunt down savings fund fraudsters

VietNamNet Bridge – The municipal People's Committee has asked the Ha Noi Police Department to start an intensive investigation into people who offer savings funds with extravagant interest rates.

VietNamNet BridgeThe municipal People's Committee has asked the Ha Noi Police Department to start an intensive investigation into people who offer savings funds with extravagant interest rates.

The move was made to protect the legal rights of depositors and the operations of commercial banks.

The step was one among several measures taken in response to a significant number of alleged fraudsters in Ha Noi, brought to light by media over the last couple of weeks, which had put many depositors at risk of losing everything.

In the latest dispatch sent to the Ha Noi Police and local authorities at the district level, People's Committee Deputy Chairman Nguyen Huy Tuong emphasised the need for civilian vigilance in monitoring people who borrow huge loans from informal channels in Ha Noi, especially in areas less accessible to State surveillance.

One notable case involved an insolvent couple from the outlying district of Dan Phuong who failed to pay back an estimated total of VND300 billion (US$15 million) that they had collected from local depositors. They were arrested in September on the charge of fraudulent appropriation of property.

VietNamNet/Viet Nam News

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