An angry mob of people tried to destroy a woman\'s home who had scammed them out of almost USD5 million.
Hundreds of people descended on a house of Nguyen Thi Dau in Ha Dong District, Hanoi, after she declared bankruptcy. They shouted, threw bricks and stones and some even used hammers to damage the house on Nguyen Thai Hoc Street on the afternoon of November 2.
Dau, 49 years old, owed more than VND100 billion (USD4.78 million).
Despite police efforts to disburse the crowd, this scene continued for about six hours, until 10pm, causing traffic jams.
According to the apparent victims, although Dau was unemployed, she was very persuasive. She created close relationships with the individuals she borrowed money from. She used this money to create an image of success, and, in turn used this image to attract more people willing to "invest".
After Dau declared her bankruptcy on September 22, the lenders flocked to her house to request repayment. Since then the house has been vacant.
On September 27, there was a letter of denunciation sent to local police. Dau does not deny the debts, and has also admitted to having borrowed from more people.
Many of the victims mortgaged their houses in order to invest with Dau. Most of the loans were recorded very crudely, on bits of paper and envelopes with no names or dates.
Black credit and bankruptcies in Hanoi
According to VTCNews, hundreds of people in the town of Phu Minh, in the Phu Xuyen District of Hanoi, are very anxious after making similar loans to Nguyen Thi Cuc and her husband. The total amount is around VND1 trillion (USD47.8 million). The couple disappeared on October 5, their whereabouts are still unknown.
Quang Quyen private enterprise in Phung Town, Dan Phuong District, has also declared bankruptcy, shocking many people. Similarly, the firm offered unusually high interest rates. During the first three months the interest was paid, encouraging others to invest. Some even signed over land ownership certificates to the company’s owner Ta Viet Quang and his wife Bui Thi Quyen in order to get bank loans.
Quang claims that he borrowed this money for a legitimate real estate business, but had to use it to pay off interest on other loans. To date, he owes upwards of VND211 billion (USD10 million).
Director of the Hanoi Police Department, Nguyen Duc Nhanh, has urged agencies address such cases in a timely manner. He also suggested that there should be an education programme which would raise awareness about the dangers of high-risk investments.
Photos: Hundreds of lenders surrounding Dau’s house
Police try to protect the house
