Home Credit Company was colluded with employees to defraud billions of dollars

Today (May 30), the Hanoi People’s Court sentenced the defendants Luong Van Hao (born in 1991, in Bac Tu Liem district), Bui Thi Hieu (born in 1986, in Thanh Tri) and Vu Hong Cuong (born in 1979). in Thanh Xuan district) were sentenced to 12, 13 and 15 years in prison, respectively, for fraud and appropriation of property.

The victim in the case is Home Credit Vietnam Finance Company Limited.

According to the indictment, from May 2013 to October 2014, Home Credit Company signed business cooperation agreements with shops selling motorbikes, mobile phones, home electronics, etc. in other provinces and cities. across the country to provide services for customers to borrow money to buy goods on installments.

If customers have needs, Home Credit Company will support by signing credit contracts for customers to borrow money to buy products.

According to regulations, in order to be approved by Home Credit Company to sign a credit contract to lend money, customers must have ID card, household registration book or driving license (original) for staff of Home Credit Company to check. mat.

At the time of signing the contract, the customer must be present to sign, take a photo to include in the financial loan file to have a basis for loan recovery. In case the dossier has errors, the customer must correct the information and have it certified by the competent authority.

In 2015, through internal control and fraud prevention activities, Home Credit Company discovered that two Company employees, Bui Thi Hieu and Luong Van Hao, had colluded with an outsider, Vu Hong Cuong. set up fake documents of credit contracts to borrow money for installment purchases, made at a branch of Home Credit Company in Hanoi to appropriate the company’s money.

The investigation results showed that, from June to September 2014, Hao had performed 258 credit contracts but had no real customers. Customer profile provided by Cuong.

Hao intentionally confirmed untrue information in his personal documents, which are photocopies of his ID card, driver’s license, then made a profile and credit contract and then uploaded it to the company’s internal website system. Approval for customers to borrow money.

Because of trusting the contracts that Hao pushed to the system, Home Credit approved for the loan of 258 above documents and was misappropriated more than 1.7 billion VND. At the CQDT, Hao admitted to signing the customer’s name on the purchase invoices.

Similarly, Hieu has performed 318 credit loan contracts but no actual customers came to purchase installment products. The defendant also falsely confirmed the documents to complete the file, causing Home Credit to appropriate more than 1.9 billion VND.

At the police station, defendant Cuong said, he directly signed the “borrower” section and was instructed by Hao, the principal to buy a phone sim to register the customer’s personal information, and how to listen and answer the phone when there is a company appraisal department called.

When the application is approved, Hao or Hieu will come to pick up the products that are mobile phones, ipads… and sell them. The money is appropriated, the defendants share the illicit benefits.

The indictment determined that Home Credit Company had appropriated more than 3.6 billion VND.

T.Velvet