Vietnamese Authorities Disrupt Illicit Debt Collection Ring

In a major crackdown, law enforcement in Ho Chi Minh City has disbanded a significant illegal debt collection network accused of masquerading as a “debt trading” enterprise to intimidate and exploit residents. The Criminal Police Department of the Ho Chi Minh City Police Investigation Agency has confirmed that they targeted an organized faction suspected of conducting gangster-style debt recovery practices throughout the city.

Vu Hoang Long, born in 1984, has been identified as the alleged mastermind behind this network. Investigators revealed that Long founded Song Long Debt Trading and Investment Joint Stock Company in 2020 after previous debt collection methods were outlawed in Vietnam. Authorities suspect the company continued its unauthorized operations by utilizing fraudulent debt trading contracts as a facade.

The organization was reportedly structured with various departments handling legal, collection, customer service, accounting, and technical functions. Internal software was allegedly deployed to track collection efforts, client details, operational protocols, and case progress.

Police indicated that the purported debt purchase contracts were merely mechanisms to legitimize their harsh recovery practices. Rather than truly acquiring debts, the network supposedly collected funds on behalf of clients while retaining commission fees that ranged between 25 and 55 percent. Clients also faced steep, non-refundable fees for file assessments, even if debts were unrecoverable.

Victims often encountered intimidation through systematic harassment. Groups of tattooed enforcers in branded uniforms allegedly visited the homes, workplaces, and businesses of debtors in fleets of marked vehicles. Reportedly, these individuals gathered en masse, loudly demanding payments and following their victims to compound psychological pressure.

One significant incident involved Anh Dung Multi-Specialty Clinic, where the debt collection crew purportedly coerced the owner over a financial issue exceeding 5 billion Vietnamese dong. Investigators noted that suspects repeatedly surrounded the clinic, obstructed customers, and attempted to tarnish the clinic's reputation to enforce repayment agreements.

Another case involved a businesswoman known as KTKO, who was subjected to similar intimidation after the group consistently monitored her warehouse and residence. Authorities reported that the suspects threatened to persistently trail her unless the debt was settled, inducing fear and considerable disruption to her life.

During emergency operations, police confiscated computers, accounting documents, contracts, legal papers, vehicles utilized in collection actions, and approximately 200 million Vietnamese dong in cash. Criminal proceedings have been initiated, with 17 suspects temporarily detained on extortion-related charges, while further investigations are ongoing for others.

The Ho Chi Minh City Police urge citizens to address financial conflicts lawfully through mediation, civil courts, or authorized agencies rather than resorting to illegal debt collectors. Officials assert that any organization employing intimidation, coercion, or harassment under a business facade will face severe repercussions under Vietnamese law.